MUMBAI: The National Securities Depository Ltd (NSDL) announced on Friday that it has appointed Vijay Chandok, a seasoned financial market veteran, as its new Managing Director (MD) and Chief Executive Officer (CEO).
Chandok brings a wealth of experience to NSDL, with over three decades of expertise in the banking, financial services, and insurance (BFSI) sector.
Before joining NSDL, he served as the MD and CEO of ICICI Securities, where he played a key role in steering the company’s growth. Additionally, he has held significant leadership positions at the ICICI Group, including serving as an executive director on the board of ICICI Bank.
Former ICICI Securities chief
NSDL, a Sebi-registered market infrastructure institution, provides a comprehensive array of products and services to India’s financial and securities markets. Established in 1996, NSDL was a pioneer in the dematerialisation of securities in India, which fundamentally transformed the country’s capital markets.
As of September 2024, NSDL became the first securities depository in India to achieve a milestone of holding Rs500 lakh crore ($6 trillion) in assets under custody. In a recent development, the Securities and Exchange Board of India (Sebi) gave its approval for NSDL to launch its Initial Public Offering (IPO), which will be a complete offer-for-sale (OFS) involving over 5.72 crore equity shares by existing shareholders.
Among the major sellers in the OFS are the National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank.
