The National Securities Depository Limited (NSDL) is expected to launch its Initial Public Offering (IPO) between March and April, marking the listing of India’s largest depository. The company aims to raise ₹3,000 crore through an offer for sale (OFS). Regulatory approvals and share sale details NSDL filed its draft red herring prospectus (DRHP) in July 2023, receiving approval from the Securities and Exchange Board of India (Sebi) in September. As per the DRHP, six existing shareholders will sell a total of 5.72 crore shares. IDBI Bank will offload 2.22 crore shares, NSE will sell 1.80 crore, and Union Bank will divest 56.25 lakh shares through this OFS. Additionally, Specified Undertaking of Unit Trust of India (SUUTI) will sell 34.15 lakh shares, while State Bank of India (SBI) and HDFC Bank will each offload 40 lakh shares. India’s largest depository set for market debut India has two major depository firms—NSDL and Central Depository Services Limited (CDSL), the latter already being listed. NSDL, established in 1996, is the country’s largest depository and has been planning an IPO for some time. The company initially filed its DRHP on July 7, 2023, but Sebi postponed the issue in August due to ongoing regulatory reviews. The regulator can delay IPO approvals if investigations are underway against a company or if additional regulatory clarifications are required. NSDL's profit increased by 30% in one year Q3FY24: ₹66.09 crore Q3FY25: ₹85.80 crore Strong revenue profit growth In the October-December quarter of 2024, the company reported a 16.2% increase in total income, reaching ₹391.21 crore, compared to ₹336.67 crore in the same period of 2023. By December FY25, the company's net profit surged 32.6% year-on-year to ₹259.82 crore. Meanwhile, total income for the period rose 13.3% to ₹1,141.4 crore, reflecting strong financial performance.