National Securities Depository (NSDL) , a key player in India's financial infrastructure, has reached a settlement agreement with the Securities and Exchange Board of India (SEBI) following non-compliances observed during an inspection in the financial year 2023-24.

Settlement Details

NSDL has agreed to pay a settlement amount of ₹15.57 crore to SEBI. The settlement terms, recommended by the High-Powered Advisory Committee (HPAC), were accepted by SEBI on October 17, 2025. This acceptance is subject to NSDL's compliance with Regulations 28 and 31 of the SEBI (Settlement Proceedings) Regulations, 2018.

Key Points of the Settlement

Company's Stance

NSDL has stated that this settlement will have no material impact on its financial, operational, or other activities. The company had previously submitted a settlement application along with Revised Settlement Terms (RST) under the SEBI (Settlement Proceedings) Regulations, 2018.

Regulatory Compliance

As per Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, NSDL has disclosed this information to the stock exchange.

This settlement underscores the ongoing regulatory scrutiny in India's financial sector and the importance of compliance for key market infrastructure institutions like NSDL. It also highlights SEBI's role in maintaining market integrity through regular inspections and enforcement actions.

National Securities Depository (NSDL) , India's first and largest depository, has announced its first dividend since going public, marking a significant milestone for the company and its shareholders.

Dividend Details

NSDL's board has recommended a final dividend of Rs 2.00 per equity share, subject to shareholder approval at the upcoming Annual General Meeting (AGM) scheduled for September 29. The company has set September 19 as the record date for dividend eligibility. Shareholders can expect to receive their dividend payments by October 28, if the proposal receives the green light at the AGM.

Stock Performance

The announcement comes as NSDL prepares to trade ex-dividend this week. Since its initial public offering (IPO) on August 8, NSDL's shares have demonstrated impressive performance:

IPO Success and Market Reception

NSDL's IPO was well-received by the market, raising Rs 4,011.00 crore. The strong debut and subsequent price appreciation underscore investor confidence in the company's prospects and its pivotal role in India's financial infrastructure.

Analyst Perspective

Motilal Oswal, a prominent financial services firm, has initiated coverage on NSDL with a 'neutral' rating. Their analysis sets a price target of Rs 1,200.00, which implies a 6.90% downside from current levels. This conservative outlook suggests that the stock may be fully valued at its current price point.

Looking Ahead

As NSDL embarks on its journey as a publicly-traded company, the announcement of its first dividend marks an important step in its commitment to shareholder returns. Investors and market watchers will likely keep a close eye on the company's future performance and dividend policies as it continues to play a crucial role in India's securities market infrastructure.