HDFC Bank will sell a 2% stake in the initial public offering (IPO) of National Securities Depository (NSDL), the lender informed exchanges on Sunday.
The headquarters of India's HDFC Bank is pictured in Mumbai, India, December 4, 2015. REUTERS/Shailesh Andrade/File Photowill sell a 2% stake in the initial public offering of National Securities Depository , the lender informed exchanges on Sunday.
The lender holds a 8.95% stake in NSDL, which handles most of the securities held and settled in dematerialised form in the Indian capital market. In its draft red herring prospectus dated July 7, the depository said the IPO will see sales of 57.3 million shares by its six shareholders.will sell up to 22.2 million shares, while National Stock Exchange will sell 18 million shares it owns in the depository.
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