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Shares of National Securities Depository Ltd. (NSDL) will be in focus on Monday, November 3, as its three-month shareholder lock-in period comes to an end.
According to Nuvama Alternative & Quantitative Research, as many as 75 lakh shares of NSDL will free-up for trade as the shareholder lock-in ends. The total number of shares are amount to 4% of the company's outstanding equity.
Based on Friday's closing price, the total value of NSDL's shares that will free up for trade is worth ₹868 crore.
It must be noted that the end of the shareholder lock-in period does not mean all the shares will be sold in the open market, but they only become eligible to be traded.
NSDL does not have any promoter shareholding and Mutual Funds also have only 1.65% stake. As of September 30, IDBI Bank (14.99%), HDFC Bank (6.95%), SBI (3%), Union Bank (2.56%) and Canara Bank (2.3%) were some of the major shareholders in the company.
Smallcap World Fund (1.62%), Deutsche Bank A.G (5%), Hong Kong and Shanghai Banking Corp (3.13%), Citibank N.A. (3.13%), were among the prominent global shareholders in NSDL.
The National Stock Exchange (NSE) features among the largest public shareholders in NSDL with a 15% stake, while as many as 8.1 lakh retail shareholders, or those with authorized share capital of up to ₹2 lakh, had a 23.47% stake in NSDL.
Shares of NSDL had ended 1.2% lower on Friday at ₹1,158.55. The stock is down nearly 20% from its post-listing high of ₹1,425, which it had surged to in just a few days of listing, even as it remains well above its IPO price of ₹800 apiece.
