National Securities Depository, a market infrastructure institution, has filed its Draft Red Herring prospectus with SEBI for allowing the existing investors to offload part of their share through initial public offering. The offer for sale through the IPO comprises about 5.72 crore equity shares.

Shares offload

Among the existing investors, IDBI Bank and NSE will sell 2.22 crore and 1.80 crore shares respectively; while Union Bank will offer 56.25 lakh. Similarly, State Bank of India and HDFC Bank will offload 40 lakh shares each while administrator of the specified undertaking of the Unit Trust of India will sell 34.15 lakh equity shares.

ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the Book Running Lead Managers to the issue. The equity shares after the IPO will be listed on BSE.

Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996.

As of March-end, the company is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets held under custody. The offer includes a reservation of equity shares for subscription by eligible employees.

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