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NSDL IPO gets SEBI approval; check details
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2 min read | Updated on October 08, 2024, 10:36 IST
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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NSDL filed its preliminary papers with the capital markets regulator on July 7, 2023.
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.
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.
Last seen, shares of CDSL were trading at ₹1,351.70, down over 1% on the NSE.
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