Shares of BSE Ltd witnessed a notable surge of nearly 4% on October 8 following SEBI’s approval of the much-anticipated ₹3,000 crore initial public offering (IPO) of National Securities Depository Limited (NSDL). The IPO, which had been delayed due to regulatory concerns, will consist entirely of an offer for sale (OFS), with significant investors such as NSE, IDBI Bank, and SBI planning to offload their shares.
The offering will see the sale of approximately 57.2 million shares, including 22.2 million from IDBI Bank and 18 million from NSE. SEBI issued its observation letter for the IPO on September 30, 2024, signaling a green light for the issue.
The approval has bolstered investor sentiment surrounding market infrastructure companies, leading to a rise in BSE’s share price. The listing of NSDL is expected to drive further market activity and solidify its position in the depository space, following in the footsteps of Central Depository Services Limited (CDSL), the only other publicly traded depository company in India.
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