National Securities Depository Ltd (NSDL), India’s leading depository, announced a 30% increase in its consolidated net profit for the third quarter of FY25. For the three months ending December 2024, NSDL’s net profit surged to Rs 85.8 crore, compared to Rs 66.09 crore in the same period last year.
The depository’s total income for the October-December quarter rose by 16.2%, reaching Rs 391.21 crore, up from Rs 336.67 crore in the corresponding quarter of FY24.
For the nine months ending December 2024, NSDL saw a remarkable 32.6% year-on-year growth in net profit, totaling Rs 259.82 crore. The total income during this period also grew by 13.3%, amounting to Rs 1,141.4 crore.
NSDL made headlines in September 2024 when it became the first Indian securities depository to reach a milestone of Rs 500 lakh crore (USD 6 trillion) in assets held in custody. This significant achievement underscores the depository’s growing influence in India’s financial markets.
In October 2024, NSDL received approval from the Securities and Exchange Board of India (SEBI) to launch its long-anticipated Initial Public Offering (IPO). The proposed IPO is a complete offer for sale (OFS), with over 5.72 crore equity shares to be sold by existing shareholders, including the National Stock Exchange (NSE), State Bank of India (SBI), and HDFC Bank, according to the draft red herring prospectus (DRHP). Notably, NSDL will not receive any proceeds from the IPO, as it is a pure offer for sale.
Once listed, NSDL will become the second publicly traded depository in India, following Central Depository Services Ltd (CDSL), which went public on the NSE in 2017. This move is expected to further strengthen NSDL’s position in India’s securities and financial markets, enhancing its transparency and accountability to investors.
