NSDL IPO: The National Securities Depository Limited launched its initial public offering (IPO) today, July 30. The issue was off to a robust start, managing to sail through on the first day of the bidding itself. Investors can apply for the NSDL IPO till August 1.
The IPO garnered strong response from all categories of investors, with NIIs leading the charge.
NSDL IPO Subscription Status
NSDL IPO was booked 1.78 times at the end of the first day of the bidding process on Wednesday. The NII portion received 2.83 times bids, the retail portion garnered 1.87 times bids and the employee portion saw 3.68 times bids.
Only the QIB category wasn’t fully subscribed, yet it received 0.84 times subscription by the end of the first day.
NSDL IPO Details
NSDL’s ₹4012 crore offer is entirely an offer for sale (OFS). The investor selling shareholders are several marquee names like IDBI Bank Ltd, NSE Ltd, Union Bank Ltd, State Bank of India Ltd, HDFC Bank Ltd (SS) and Administrator of the Specified Undertaking of the Unit Trust of India.
The object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges.
NSDL IPO price band is fixed at ₹760 to ₹800 apiece. Investors can apply in a lot of 18 shares and their multiples. The shares of the company will list only on the BSE.
NSDL is a SEBI-registered Market Infrastructure Institution (MII) that provides a secure and scalable digital framework for India’s financial markets.
As of FY25, NSDL held a dominant position in securities custody, servicing 99.99% of dematerialised holdings by foreign portfolio investors. It also managed ₹70,16765 crore in assets for individuals and HUFs, capturing 67.90% of that specific market segment. It managed over 39.45 million active Demat accounts via 294 depository participants, with account holders across 99.34% of Indian pincodes and 194 countries.
ICICI Securities, HSBC Securities, IDBI Capital, Motilal Oswal, Axis Capital and SBI Capital Markets are the book-running lead managers (BRLMs).
“At the upper price band of ₹800, NSDL’s FY25 P/E ratio of 47x appears reasonably priced compared to its peer. Considering its dominant share in AUC, rapid growth in financials, stable revenue stream, healthy return ratios and focus on digital infrastructure expansions ahead, we assign a ‘Subscribe’ rating with a long-term investment perspective,” said Geojit Financial Services.
Anand Rathi and Canara Bank Securities also have ‘Subscribe’ ratings on the issue.
NSDL IPO GMP
The grey market premium (GMP) trend for NSDL IPO shares is also decent. NSDL IPO GMP today is ₹135 apiece. At the prevailing GMP and the upper end of the price band of ₹800, NSDL IPO listing is likely at ₹935, a premium of nearly 17%.
However, investors should not base their investment decisions solely on GMP. They should also consider company fundamentals and risk appetite.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
