NSDL IPO Day 2 Live: The initial public offering (IPO) for National Securities Depository Ltd (NSDL) was completely subscribed just hours after bidding began on Wednesday, ultimately concluding the day with a subscription rate of 1.78 times. The ₹4,011-crore share sale attracted bids for 6,26,56,812 shares compared to the 3,51,27,002 shares that were available, resulting in a subscription ratio of 1.78 times, according to data from the BSE.
The portion allocated for non-institutional investors saw a subscription rate of 2.83 times, while the share reserved for retail individual investors (RIIs) achieved a subscription rate of 1.87 times. Qualified institutional buyers (QIBs) subscribed to 84% of their designated portion.
On Tuesday, National Securities Depository Ltd raised over ₹1,201 crore from its anchor investors.
NSDL IPO is set to close on August 1, with the NSDL IPO price band established between ₹760 and ₹800 per share.
The public offering consists entirely of an offer for sale (OFS) totaling 5.01 crore shares, with the sellers including the National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI).
As the public offering is fully an OFS, NSDL will not obtain any funds from the IPO.
This forthcoming listing will position NSDL as the second publicly listed depository in the country, following Central Depository Services (CDSL), which debuted on the NSE in 2017.
(Stay tuned for more updates)
