SEBI has given its nod to the National Securities Depository (NSDL) public issue.
NSDL filed its draft prospectus (DRHP) on July 7 last year, and the regulator subsequently put the issue on hold for a while.
IDBI Bank and the National Stock Exchange (NSE) hold 26% and 24% of NSDL, respectively.
According to the DRHP, the issue would be an offer for sale, with the NSE and IDBI Bank planning to sell stakes. The IPO will involve the sale of 57.3 million shares by six shareholders. IDBI Bank will sell up to 22.2 million shares, while the National Stock Exchange will divest 18 million shares.
Union Bank of India will sell up to 5.62 million shares, State Bank of India and HDFC Bank will sell up to 4 million shares each, and the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) will sell up to 3.41 million shares.