Rs 3,000 crore IPO may be launched this month!
Depository company NSDL i.e. National Securities Depository Limited may launch its much-awaited initial public offering (IPO) this month. news agency PTI has given this information. According to a report that came out in February, through this IPO, NSDL aims to raise Rs 3,000 crore from the stock market.
NSDL preparing to get approval
Before launching the IPO, NSDL will need several regulatory approvals for its draft documents, including approval from the Securities and Exchange Board of india (SEBI). A senior official told PTI that the company still has time to get approval. Its deadline is going to end in March. When asked about the timeline of this upcoming IPO, the senior official said, we have time till March. We are completing our work as soon as possible. We are preparing to launch the IPO before March.
This is the work of NSDL
Let us tell you that NSDL is India's largest and oldest depository. This institution keeps investors' shares and other securities in electronic form. It was established in 1996 and its headquarters is in Mumbai. It was the first depository to provide online trading service in the country. This depository mostly oversees demat accounts.
According to the report, NSDL is selling shares rapidly due to the approval given by SEBI as Market Infrastructure Institution (MII). According to the report, NSE, bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india (SBI) and hdfc bank are also planning to sell 5.72 crore equity shares in this issue, which will be completely OFS i.e. Open for Sale.
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