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The National Securities Depository (NSDL) disclosed on Friday that the value of securities held in dematerialised form at the depository has reached a staggering Rs 500 lakh crore (USD 6 trillion) as of September 2024.
This marks a significant milestone for the depository, which took 18 years to reach Rs 100 lakh crore in June 2014, followed by Rs 200 lakh crore in November 2020, and achieved the Rs 500 lakh crore milestone in just four years.
In a statement, S. Gopalan, Interim Managing Director of NSDL, expressed gratitude to the stakeholders: "We thank investors, market participants, regulators, and other stakeholders on this historic occasion."
Founded in 1996, NSDL is registered with the Securities and Exchange Board of India (Sebi) and is a key market infrastructure institution. It played a pioneering role in the dematerialisation of securities in India, which began in November 1996 following the introduction of the Depositories Act.
Further expanding its market presence, NSDL recently received Sebi's approval for its initial public offering (IPO). This approval came in September, more than a year after the company submitted its preliminary IPO documents in July 2023.
The IPO is expected to be an offer-for-sale of over 5.72 crore equity shares, involving major shareholders such as the National Stock Exchange (NSE), State Bank of India (SBI), and HDFC Bank, according to the draft red herring prospectus (DRHP).
This achievement and upcoming IPO signal NSDL's growing importance in India's financial and securities markets, positioning it to further bolster its influence in the industry.
