HDFC Bank To Sell 2% Stake In National Securities Depository Limited (NSDL) IPO

HDFC Bank, one of India's leading private sector banks, has made headlines with its decision to sell a 2% stake in the upcoming initial public offering (IPO) of the National Securities Depository Limited (NSDL), Reuters Reported.

A majority of the securities held and settled in dematerialized form on the Indian capital market are handled by NSDL, which the lender owns an 8.95% share in.
The depository stated that its six stockholders will sell 57.3 million shares in the IPO in their draft red herring prospectus (DRHP) dated July 7.

The National Stock Exchange (NSE) has announced its intention to divest 18 million shares of its depository holdings, while IDBI Bank (IDBI.NS) plans to sell up to 22.2 million shares in the upcoming IPO.

Union Bank of India (UNBK.NS) has announced to sell 5.62 million shares, while State Bank of India (SBI.NS) and Specified Undertaking of the Unit Trust of India (SUUTI) has planned to sell 4 million and 3.4 million shares, respectively, in the upcoming initial public offering (IPO). Joining them as the sixth shareholder in the IPO is HDFC Bank.