NSDL IPO expected by July as Sebi extends in-principle listing approval

In a letter dated March 28, Sebi granted an extension to the in-principle approval for listing, subject to certain conditions

In a relief to National Securities Depository (NSDL), the Securities and Exchange Board of India (Sebi) has granted extension till July 31 for the depository to launch its ₹3,000 crore initial public offer (IPO).

 

An earlier approval granted by the market regulator was to lapse this month. Market experts believe that the extension will help NSDL prepare for the IPO and launch it when the market sentiments improve. 

 

In a letter dated March 28, Sebi granted the extension to the in-principle approval for listing, subject to conditions.

 

The move is crucial for complying with the Sebi’s mandate capping single-entity ownership in market infrastructure institutions (MIIs) at 15 per cent.

 

Sebi granted in-principle approval for the IPO in September 2024, following NSDL’s draft red herring prospectus (DRHP) filing in July 2023. The IPO will be entirely an offer for sale (OFS), with six shareholders diluting their stakes, which includes the National Stock Exchange, IDBI Bank and HDFC Bank.

 

In 2018, Sebi introduced rules limiting single-entity ownership in market infrastructure institutions to 15 per cent, with a five-year compliance window ending in October 2023. The market regulator had granted extension to NSE for divesting its ownership in NSDL.

 

NSE holds 24 per cent in NSDL.

 

In December quarter, NSDL’s consolidated net profit jumped nearly 30 per cent to ₹85.8 crore while total income surged 16 per cent to ₹391 crore. 

Runwal Enterprises files papers for ₹1K cr public issue

 

The Mumbai-based real estate developer Runwal Enterprises filed the draft red herring prospectus document with the Sebi for an initial public offering (IPO) of ₹1,000 crore.  The fresh issue will have equity shares with a face value of ₹2 each. Also, the company may consider a pre-IPO placement of specified securities for an amount aggregating up to ₹200 crore.  As of January 31, 2025, the aggregated outstanding borrowings of the company and its subsidiaries amounted to ₹2,040.75 crore on a consolidated basis.