NSDL had filed its Draft Red Herring Prospectus with the securities board in July 2023, but the DRHP was put in abeyance.

Sebi has approved the IPO of National Securities Depository Limited (NSDL). The offer for sale will include 57,260,001 shares, with major stakeholders like IDBI Bank, NSE, and SBI reducing their stakes.

An observation letter is a document issued by the Securities and Exchange Board of India (SEBI) to a company in response to a draft offer document for an Initial Public Offering (IPO).

NSDL, India’s largest depository, received final approval from SEBI to launch an IPO involving an offer for sale of 57,260,001 shares, allowing IDBI Bank, NSE, SBI, HDFC Bank, and Union Bank to reduce their stakes.

The IPO of NSDL, which is completely an offer for sale, will see IDBI Bank, NSE, SBI, HDFC Bank and Union Bank of India offloading their stakes.