New Delhi: SEBI has approved Vijay Chandok as the new managing director and CEO of National Securities Depository Ltd (NSDL). Currently heading ICICI Securities, Chandok will take over as NSDL readies for its first-ever public offering.
The depository’s IPO will involve stakeholders like the National Stock Exchange, IDBI Bank, and HDFC Bank reducing their shares. Chandok’s appointment, cleared on August 30, will last for five years or until he turns 65, whichever comes first. However, the role is still subject to his acceptance, according to NSDL’s notice.
With this leadership change, NSDL is looking ahead to its IPO and potential growth. Chandok’s experience in broking and investment banking could help steer NSDL as it opens up to public investment and new regulatory challenges.
This move signals a new chapter for NSDL as it expands its role in the financial market.
