NSDL aims for ₹16,000 crore valuation with IPO
NSDL, the company that keeps your stocks digital and safe, just got SEBI's green light for its IPO, which is likely to open by the end of July or early August, with the listing targeted by August 14, 2023.
The offering was pushed back from July because of some tricky valuation talks, but NSDL is aiming for a ₹16,000 crore valuation—pretty huge in India's finance world.
IPO size cut to 50.1 million shares
NSDL has cut its IPO size to 50.1 million shares (down from 57.2 million).
Shares recently traded at ₹1,025 each in the unlisted market—a drop from last month's ₹1,250—while the gray market premium is about ₹154 per share.
For context: NSDL's price-to-earnings ratio sits around 60x; industry rival CDSL clocks in at about 69x.
NSDL is India's 1st depository
Founded in 1996 as India's first depository, NSDL makes it possible to hold and transfer stocks electronically (so no more paper certificates).
It handles over 20 million investor accounts through more than 2,000 participants—basically making investing smoother for everyone.