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NSDL IPO gets SEBI approval; check details 

Upstox
By Upstox News Desk

2 min read | Updated on October 08, 2024, 10:36 IST

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SUMMARY

NSDL was established in August 1996 and has established itself as a state-of-the-art infrastructure that handles most of the securities held and settled in dematerialised form in the Indian capital market.

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CDSL
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NSDL filed its preliminary papers with the capital markets regulator on July 7, 2023.

NSDL filed its preliminary papers with the capital markets regulator on July 7, 2023.

NSDL IPO: The Securities and Exchange Board of India (SEBI) has given its approval to the initial public offering (IPO) of National Securities Depository Limited (NSDL), which handles most of the securities held and settled in dematerialised form in the Indian capital market.

The National Securities Depository Ltd (NSDL) filed its preliminary papers with the capital markets regulator on July 7, 2023. 

However, in August 2023, Sebi had kept in 'abeyance' the proposed initial share sale of the securities depository. 

NSDL was established in August 1996 and has established itself as a state-of-the-art infrastructure that handles most of the securities held and settled in dematerialised form in the Indian capital market. Although India had a vibrant capital market that is more than a century old, the paper-based settlement of trades caused substantial problems like bad delivery and delayed transfer of title, etc. 

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The enactment of the Depositories Act in August 1996 paved the way for the establishment of NSDL, as per the company's website.

A depository is a facilitator for holding of securities in the dematerialised form and an enabler for securities transactions.

NSDL's rival CDSL, or Central Depository Services, is already listed on the bourses. CDSL was founded in 1999. It is the largest depository in India in terms of the number of demat accounts opened. In February, as per reports, CDSL became the first depository in India to open 60 million active demat accounts. 

Last seen, shares of CDSL were trading at ₹1,351.70, down over 1% on the NSE. 

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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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