Depository company NSDL i.e. National Securities Depository Limited will launch its IPO in the market by next month. On Thursday, a major official said about the much awaited public issue of Rs 3,000 crore i.e. IPO that as a Market Infrastructure Institution (MII), National Securities Depository Limited (NSDL) also needs a draft red herring prospectus and other approval is also needed. . This is the approval of which the deadline is near.
Preparation to launch IPO before date
According to the news, the officer while answering a special question on the deadline for the IPO said that our dates are ending next month. We are running against time to complete things fast. We will try to launch IPO before date. The 12 -month deadline for the DRHP ends in September, but it is the MII acceptance given by SEBI which is motivating the deposits handling most of India’s dematerialized accounts to accelerate the share sales process.
What was the company’s answer on the reason for the delay
When the officer was asked whether there were unstable market conditions behind the delay in IPO, then his reply to this was that some offers are also coming in the market. Responding to a question on the reasons for the delay in share sales, the officer pointed to the challenges on the manpower front, saying that the amount of work to be done is very high. Let me tell you, NSDL got the green signal from SEBI for IPO in September last year.
30 percent increase in net profit of the company
According to the report, NSE, State Bank of India (SBI) and HDFC Banks are planning to sell 5.72 crore equity shares in this issue which will be offered a complete sale (OFS). Last week, NSDL recorded an increase of Rs 85.8 crore with a 30 percent increase in its net profit in the December quarter, which was Rs 66.09 crore in the same period a year ago. In the period of October-December 2024, its total income increased by 16.2 percent to Rs 391.21 crore.
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