NSDL IPO: Trading in unlisted shares freezes

NSDL Set to Launch IPO Next Week With $500 Million.

Expert Analysis :

• IPO Launch Timing: NSDL plans to open its IPO for bidding next week, aiming to raise up to $500 million via an Offer for Sale of 57,260,001 equity shares with a face value of ₹2 each.

• Market Positioning: NSDL will become India’s second publicly listed depository after CDSL, which was listed on the NSE in 2017.

• Trading Freeze: As per regulatory norms, trading in NSDL’s unlisted shares has been frozen since July 18 at around ₹989.90, with no off-market transactions allowed until six months post-listing.

• Listing and Pricing: NSDL shares are proposed to be listed on BSE, with the price band and final offer price to be decided with BRLMs based on market demand and various qualitative and quantitative factors.

• Issue Management: MUFG Intime India is the registrar to the issue, with ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital, Motilal Oswal, and SBI Capital as book running lead managers.

• Proceeds Allocation: NSDL will not receive any proceeds from the OFS; all net proceeds will go to selling shareholders based on their share sales.