National Securities Depository is pressing ahead with its plan for an IPO that is expected to raise about $400 million, people familiar with the matter said.The proposed listing of the country’s oldest and largest (in terms of assets under custody) depository, which was initially cleared by markets regulator Sebi in Oct last year, is now slated to take place as soon as July. The share offering is the outcome of an offer for sale by major investors including IDBI Bank, the NSE and SBI, and NSDL itself won’t receive any proceeds. NSDL’s MD & CEO Vijay Chandok declined to comment on the potential timeline for the IPO.
