The lender HDFC Bank announced to markets on Sunday that it will sell a 2% interest in the National Securities Depository’s (NSDL) IPO.
In NSDL, which manages the majority of securities held and paid in dematerialized form on the Indian capital market, the lender has an 8.95% stake.
The depository said in its draft red herring prospectus (DRHP) dated July 7 that its six stockholders would sell 57.3 million shares during the initial public offering (IPO).
Up to 22.2 million shares will be sold by IDBI Bank, and 18 million shares held in depository by National Stock Exchange will also be sold.
State Bank of India, Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), and Union Bank of India will each sell 4 million and 3.4 million shares, respectively. Union Bank of India will sell 5.62 million shares. HDFC Bank is the sixth stakeholder taking part in the IPO.
