NSDL Secures Further IPO Listing Extension

The National Securities Depository Limited (NSDL) has received another extension from SEBI to complete its IPO listing process, as per news reports. The new deadline is August 14, 2025. The earlier extension was set to expire on July 31, 2025. NSDL confirmed it received the updated timeline on July 22, 2025.

SEBI’s In-Principle Approval

SEBI, through a letter dated July 21, 2025, granted the extension subject to compliance with its earlier conditions outlined in March. The first in-principle approval was issued in April 2023, allowing NSDL one year to complete the listing. This is the second time the deadline has been officially extended.

NSDL's delay in listing has been partly attributed to pending compliance with SEBI’s ownership rules. SEBI regulations restrict any single entity from holding more than 15% in a market infrastructure institution. IDBI Bank currently holds 26.01% in NSDL, while NSE holds 24%.

Reduction in IPO Size

NSDL has reduced its planned IPO size. The number of shares to be offered has been brought down from 5.73 crore to 5.01 crore. This change was mentioned in an addendum to the company’s Draft Red Herring Prospectus.

The company was originally expected to complete the listing by April 13, 2024. The deadline was first extended to July 31, 2025, and now to August 14, 2025. NSDL had earlier stated that if deadlines are missed, fresh approvals may be needed.

Read More: How to Buy NSDL Unlisted Shares: A Guide for Investors!

Conclusion

NSDL is the country’s largest depository in terms of demat value and number of issuers. It also fully owns NSDL Payments Bank, which recently received scheduled commercial bank status from the RBI. The bank began operations in 2018.

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