HDFC Bank to sell 2% stake in NSDL IPO
NEW DELHI (Reuters) - HDFC Bank will sell a 2% stake in the initial public offering (IPO) of National Securities Depository (NSDL), the lender informed exchanges on Sunday.
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NEW DELHI (Reuters) - HDFC Bank will sell a 2% stake in the initial public offering (IPO) of National Securities Depository (NSDL), the lender informed exchanges on Sunday.
HDFC Bank holds 8.95% stake in NSDL, which handles most of the securities held and settled in dematerialised form in the Indian capital market
If the listing goes ahead as planned, NSDL would become the second depository after peer Central Depository Services Limited in 2017 to be listed on the domestic bourses.
In its draft red herring prospectus (DRHP) dated July 7, the depository said the IPO will see sales of 57.3 million shares by its six shareholders.
HDFC Bank plans to divest a 2% stake in the National Securities Depository (NSDL) through its IPO. The bank will offload up to 40 lakh equity shares. Additionally, HDFC Bank will announce its Q1 results for FY24 on July 12.