As per the sources, it recently submitted an updated document (addendum) to its DRHP with the market regulator SEBI as part of its efforts to move forward with the IPO. They also shortened their selling shares, as it was 57.26 million, and now it is 50.15 million.
NSE(National Stock Exchange) is one of the main participants in selling its shares during the NSDL IPO. According to sources, during the NSDL IPO, the price band might be between ₹750-₹850.
As per the sources, IDBI Bank Ltd, the National Stock Exchange, and Union Bank of India are expected to sell part of their stake in the company.
Moreover, sources also said that IDBI Bank has a plan to offload 2,22,20,000 equity shares, and NSE will offload 1,80,00,001 equity shares, while Union Bank of India will offer 5,01,45,001 shares in the NSDL IPO.
NSDL’s IPO lead managers and IPO registrar are below the line.
ICICI Securities, Axis Capital, HDFC Securities & Capital Market India, IDBI Capital, ICICI Securities, Axis Capital, HDFC Securities & Capital Market India, SBI Capital Market, and Motilal Oswal Investment Advisors are managing the IPO. MUFG Intime India is assigned as the registrar for the issue.
The shares of NSDL were not allowed for free transfer, the same as happened with NSE’s stock. Sandip Ginodia, CEO of Kolkata-based Altius Investech, said that a new ISIN has allowed NSDL shares to be traded and transferred freely again, which increased demand for the shares.
As per the sources, Hitesh Dharawat from Mumbai-based Dharawat Securities shared a similar view, NSDL is one of the leading companies and strongly present amongst institutional investors, and CDSL is famous for the retail investors. Undoubtedly, the NSDL shares are a bit overvalued nowadays, but the CDSL’s growing interest in market infrastructure is drawing in long-term investors, looking at a 3–5 year period.
Further, CDSL has various demat accounts, while NSDL holds the largest amount of assets under custody.
According to sources, for the financial year ending March 31, 2025, NSDL revenue has increased 12% YOY, as it has reached ₹1,420 crore. Its net profit grew by 24.75% YoY to ₹343 crore. The company’s EBITDA rose 31.5% YoY to ₹375 crore. Moreover, its operating margin improved to 26.41% during the same period.
