IPO News: SEBI Extends NSDL Listing Approval Deadline, IPO Set to Raise Rs 4,000 Crore

IPO News: The much-anticipated IPO of National Securities Depository Limited (NSDL) has received an important update. The Securities and Exchange Board of India (SEBI) has granted an extension for the equity share listing process, moving the deadline from July 31, 2025, to August 14, 2025. This is SEBI’s third such extension, as NSDL had previously been unable to complete the process despite earlier allowances. NSDL verified receipt of the extension in SEBI’s letter dated 21 July 2025, which refers to the compliance restrictions mentioned in SEBI’s communication of March 28, 2025.

NSDL IPO Update

NSDL is now preparing to launch its IPO between July 30 and August 1, 2025, with the anchor book expected to open on July 29. The IPO is an Offer for Sale (OFS) that aims to raise Rs 4,000 Cr ($463 million) by offering 5.01 crore equity shares. Major stakeholders include IDBI Bank (26.01%) and the National Stock Exchange (24%), both of which intend to lower their equity to comply with SEBI’s requirement that no single business in a Market Infrastructure Institution should hold more than 15% equity. As of December 31, 2024, NSDL is India’s largest depository, with 3.87 crore demat accounts, 289 depository participants, and over 64,000 registered issuers. ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital, Motilal Oswal, and SBI Capital will manage the initial public offering (IPO).