NSDL Securities Reach Rs 500 Lakh Cr: Depository Hits Milestone
By Rediff Money Desk, New Delhi Oct 18, 2024 16:29
National Securities Depository Ltd (NSDL) surpasses Rs 500 lakh crore in dematerialized securities, marking a significant milestone in India's financial market. The depository is set to launch its IPO soon.
New Delhi, Oct 18 (PTI) The National Securities Depository Ltd (NSDL) on Friday said the value of securities held in dematerialized form at the depository reached Rs 500 lakh crore (USD 6 trillion) in September 2024.
The leading depository took 18 years to reach Rs 100 lakh crore in June 2014, another 6 years to touch Rs 200 lakh crore in November 2020 and a span of 4 years to hit the milestone of Rs 500 lakh crore, a statement said.
"We thank investors, market participants, regulators and other stakeholders on this historic occasion," S Gopalan, Interim MD of NSDL said in a statement.
NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996.
Last month, the depository received Sebi's go-ahead to launch its initial public offering (IPO). The clearance from the markets regulator came more than a year after the company submitted its preliminary IPO papers to the regulator in July 2023.
The proposed IPO is a complete offer-for-sale of more than 5.72 crore equity shares by shareholders, including National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank, as per the draft red herring prospectus (DRHP).
The leading depository took 18 years to reach Rs 100 lakh crore in June 2014, another 6 years to touch Rs 200 lakh crore in November 2020 and a span of 4 years to hit the milestone of Rs 500 lakh crore, a statement said.
"We thank investors, market participants, regulators and other stakeholders on this historic occasion," S Gopalan, Interim MD of NSDL said in a statement.
NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996.
Last month, the depository received Sebi's go-ahead to launch its initial public offering (IPO). The clearance from the markets regulator came more than a year after the company submitted its preliminary IPO papers to the regulator in July 2023.
The proposed IPO is a complete offer-for-sale of more than 5.72 crore equity shares by shareholders, including National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank, as per the draft red herring prospectus (DRHP).
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 7.93 ( -0.75)
- 41403249
- G G Engineering
- 1.37 ( -2.84)
- 23927523
- Remedium Lifecare
- 6.13 (+ 4.97)
- 22079088
- Srestha Finvest
- 0.74 (+ 4.23)
- 18825039
- Standard Capital
- 0.89 ( -2.20)
- 10843962
MORE NEWS
Embassy REIT Leases 2.07 Lakh Sq Ft Office...
Embassy Office Parks REIT has leased 2.07 lakh sq ft of office space in Bengaluru to...
SAIL Supplies 45,000 Tonnes Steel for Mahakumbh...
SAIL, India's largest steel maker, has supplied 45,000 tonnes of steel for the upcoming...
Govt to Give Rs 35,000 Cr LPG Subsidy to IOC,...
The Indian government is likely to provide a Rs 35,000 crore subsidy to IOC, BPCL, and...