India’s HDFC to offer 2% shares in NSDL IPO

This is equivalent to four million equity shares.

HDFC Bank said it intends to participate in the initial public offering (IPO) of National Securities Depository Limited (NSDL).

The bank said it plans to offer up for sale up to a 2% equity stake, equivalent to four million equity shares.

This is mentioned in the Draft Red Herring Prospectus dated 7 July, filed with the Securities and Exchange Board of India on 8 July.

ALSO READ: India’s HDFC Bank net profit up 18.3% in Q4

It should be noted that the bank has previously divested a 1% stake in NSDL through definitive agreements on 2 December 2022, which was within the prescribed materiality threshold under Regulation 30 of SEBI Listing Regulations.

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