Key Highlights:
- NSDL IPO subscribed 41.02 times; QIBs led at 103.97x
- Shares listed at Rs 880, 10 percent above issue price
- No fresh issue; IPO proceeds go to existing shareholders
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Mumbai: National Securities Depository Limited (NSDL) made an impressive entry into the stock market on August 6, listing at Rs 880 per share on the BSE, marking a 10 percent premium over its IPO price of Rs 800. This listing establishes NSDL as the second publicly listed depository in India, following CDSL, which debuted in 2017.
IPO Receives Overwhelming Response
The Rs 4,011.60 crore IPO witnessed strong demand across investor categories, receiving an overall subscription of 41.02 times. The issue attracted bids for 144.08 crore shares, far exceeding the 3.51 crore shares on offer.
- Qualified Institutional Buyers (QIBs) led the charge with a subscription of 103.97 times
- Non-Institutional Investors (NIIs) followed at 34.98 times
Retail investors subscribed 7.76 times
Employees showed strong interest as well, subscribing 15.39 times
Ahead of the IPO, NSDL raised Rs 1,201.44 crore from anchor investors on July 29, 2025.
Offer-for-Sale Only, No Fresh Issue
The IPO was an entirely offer-for-sale (OFS) issue of 5.01 crore equity shares, with no new shares issued. Key stakeholders offloading their holdings included NSE, HDFC Bank, IDBI Bank, SBI, Union Bank of India, and SUUTI.
Since no fresh capital was raised, NSDL will not receive IPO proceeds, but the listing is expected to boost its brand visibility and public market presence.
Strong Financial Performance
NSDL reported a 24.57 percent increase in net profit, reaching Rs 343.12 crore in FY25, up from Rs 275.44 crore in FY24. Revenue also grew 11.97 percent, totaling Rs 1,420.14 crore in FY25.
As a SEBI-registered Market Infrastructure Institution (MII), NSDL provides essential services like dematerialization, trade settlement, and corporate actions in the Indian securities market.
NSDL shares listed at Rs 880 on BSE, a 10 percent premium over the IPO price. The Rs 4,011 crore OFS issue was subscribed over 41 times, reflecting strong investor demand and confidence in the company.
