NSDL IPO News: State Bank of India, the country’s largest public sector bank, informed on Monday that it is going to sell its 2 per cent stake in National Securities Depository Limited (NSDL). Through this, it will sell its 40 lakh equity shares in the organization through IPO (NSDL IPO). It is worth noting that SBI has a total stake of 5 percent in NSDL, out of which it is going to sell a total of 2 percent stake.
In the draft paper submitted to SEBI, SBI has informed that it will sell its 2 per cent stake through offer for sale by participating in the initial public offer brought by NSDL.
These banks will also sell their stake
Apart from State Bank, many other banks are also going to sell their stake in the institution through offer for sale in the IPO of NSDL. It also includes the names of IDBI Bank, Union Bank of India, HDFC Bank. IDBI Bank will sell 18,000,0001 equity shares, Union Bank of India 5,625,000 equity shares and HDFC Bank 4,000,000 equity shares through offer for sale.
What is NSDL?
NSDL ie National Securities Depository Limited was established in the year 1996. This company was started to provide service to investors, custodians and stock brokers. It is worth noting that it is the largest depository company in the country in terms of number of issuers and market share. The company has submitted papers for its initial public offer with the market regulator Security Exchange Board of India (SEBI). According to the paper filed with SEBI, the company is going to sell a total of 5.73 crore shares through this IPO. These shares will be sold by a total of 6 shareholders.
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