Vijay Chandok Takes Helm at NSDL Ahead of Milestone IPO

Vijay Chandok, a veteran in financial markets, has been appointed as the Managing Director and CEO of NSDL. Previously, he held significant positions within the ICICI Group. NSDL, recognized for pioneering securities dematerialization, is gearing up for an IPO with major shareholders selling their stakes.

Vijay Chandok, a seasoned expert in the financial markets, has officially assumed the position of Managing Director and Chief Executive Officer at the National Securities Depository Ltd (NSDL). With a career spanning over three decades, Chandok's experience includes pivotal roles within the ICICI Group, notably as MD and CEO of ICICI Securities and serving on the ICICI Bank board as an executive director.

Under Chandok's leadership, NSDL aims to strengthen its position in the financial markets, having played a significant role in pioneering securities dematerialization in India. The institution, which is registered with Sebi as a market infrastructure institution, recently achieved a landmark by becoming the first securities depository in India to hold Rs 500 lakh crore in assets as of September 2024.

Looking ahead, NSDL is also preparing for its initial public offering (IPO), approved by Sebi in October. The IPO is structured as a complete offer-for-sale (OFS) involving more than 5.72 crore equity shares from key stakeholders, including the National Stock Exchange of India, State Bank of India, and HDFC Bank, signaling a significant shift in the market landscape.

(With inputs from agencies.)