IPO-bound National Securities Depository Ltd (NSDL) just reported a 4.77 per cent rise in consolidated net profit to ₹83.3 crore for the three months ending March 2025. The company made a net profit of ₹79.50 crore in the same quarter of the previous fiscal year. Total income also went up by 9.94 per cent to ₹394 crore in the quarter under review from ₹358 crore in the January-March quarter of 2023-24, as per NSDL’s statement.
Financial Year Performance:
For the full fiscal year, the depository’s net profit jumped 24.57 per cent to ₹343 crore, and total income increased by 12.41 per cent to ₹1,535 crore over FY24. The board of directors has recommended a final dividend of ₹2 per equity share for the financial year FY 2024-25, pending approval from the shareholders. NSDL is a company that facilitates the holding and transfer of securities in dematerialised form. Its demat account holders were in more than 99 per cent of pin codes in India and 186 countries worldwide, with over 63,000 service centers in FY24, covering every state and Union territory.
IPO Details:
The depository has reduced its initial public offering (IPO) size, now comprising 5.01 crore shares compared to the 5.72 crore shares initially mentioned in the draft red herring prospectus. The IPO only includes an offer-for-sale (OFS) component, with the National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank among those selling shares. As the public issue is solely an OFS, NSDL will not receive any proceeds from the IPO. The company has been granted an extension by markets regulator SEBI for the listing of its shares until July 31, 2025. This listing will make NSDL the country’s second publicly traded depository after Central Depository Services (CDSL), which was listed on the NSE in 2017. The listing of NSDL is crucial to comply with Sebi’s ownership norms, which state that no entity can hold more than 15 per cent of the shareholding in a depository company. IDBI Bank and the NSE, NSDL’s principal shareholders, need to reduce their stake in the company to adhere to SEBI’s rule. Currently, IDBI holds 26.10 per cent and NSE owns a 24 per cent stake in NSDL, which exceeds the permissible limit.
