New Delhi : Market regulator SEBI has given approval to the leading depository National Securities Depository Limited (NSDL) to launch the initial public offering (IPO) in the market. The company gave this information to the stock market on Tuesday.
Apart from NSDL, Standard Glass Lining Technology and Zinca Logistics Solutions have also received Securities and Exchange Board of India (SEBI) approval to raise funds through IPO. According to the IPO documents filed with SEBI, the proposed IPO of NSDL is based on an offer for sale of more than 5.72 crore shares by shareholders including NSE, State Bank of India i.e. SBI and HDFC Bank. For this the company got SEBI approval on 30 September.
Documents submitted to SEBI
Under the offer for sale, IDBI Bank will sell 2.22 crore shares, NSE 1.80 crore shares, Union Bank of India 56.25 lakh shares and State Bank of India and HDFC Bank 40 lakh shares each. Standard Glass Lining Technology and Jinka Logistics Solutions received approval for IPO from SEBI on October 1 and 3, respectively. Both the companies had filed documents for IPO with SEBI in July 2024.
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new shares issued
Hyderabad-based Standard Glass Lining Technology will issue new shares worth up to Rs 250 crore in its Rs 600 crore IPO. This also includes an offer for sale of 1.84 crore shares. A total of Rs 350 crore will be raised from this. The IPO of Bengaluru-based Jinka Logistics Solutions is a combination of an offer of fresh shares worth Rs 550 crore and an offer for sale of 2.16 crore shares by promoters and investor shareholders.
Big contribution of NSDL
When the draft paper for NSDL's IPO was filed with SEBI, ADFC Bank had said that it would sell 2 percent of its stake in NSDL in the offer for sale. Let us tell you that HDFC Bank has a total stake of 8.95 percent in NSDL. NSDL offers products related to financial and securities markets. After the introduction of the Depositories Act in 1996, NSDL has made a major contribution in increasing the practice of demat accounts in the country. Employees will also be given discount in NSDL IPO. NSDL shares will be listed on BSE.
(with agency input)
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