The IPO of National Securities Depository Limited (NSDL) has received a b response from investors. This public issue, which opened on Wednesday, July 30, 2025, was subscribed 1.18 times in total by Thursday noon. The issue will remain open until August 1st. The company aims to raise approximately ₹4,000 crore through this IPO.
NSDL has fixed the price band for this issue at ₹760 to ₹800 per share. One lot contains 18 shares. This means that a retail investor will have to bid for a minimum of ₹14,400. A maximum of 13 lots, i.e., 234 shares, can be invested in for up to ₹1,87,200.
IPO Shares Buzzing in the Grey Market
As soon as the IPO was launched, NSDL shares became a topic of discussion in the grey market. According to market sources, NSDL shares were trading at a premium of ₹126 in the grey market on Thursday. This means the shares are available at a price approximately 16 percent higher than the upper price band of ₹800. Looking at this, it can be estimated that investors are enthusiastic about this IPO and also expect to profit on the listing day.
When will Allotment and Listing Take Place?
The allotment of shares for this IPO is expected to be finalized by August 4, 2025. If an investor receives shares, they are likely to be credited to their demat account by August 5th. Meanwhile, NSDL shares are expected to be listed on the BSE on August 6, 2025.
As per SEBI's approval, the company has to complete its listing process before August 14, 2025. Thus, there are possibilities that the listing may occur even before that date.
What Does the Company Do?
NSDL is the first and oldest depository company in the country. It is registered with SEBI as a Market Infrastructure Institution. When the Depositories Act came into effect in November 1996, NSDL was the first to initiate the process of dematerialization in India. This company is considered the backbone of the Indian stock market.
NSDL provides facilities for holding demat accounts, bonds, mutual fund units, and other securities in digital form. In addition, the company is also responsible for KYC and other data services for investors.
Strong Financial Figures
The company's financial results also strengthen its fundamentals. In fiscal year 2024-25, NSDL earned a net profit of ₹343 crore, which is 24.57 percent higher compared to the previous year. Meanwhile, the company's total income increased by 12.41 percent to reach ₹1,535 crore.
These figures clearly show that the company's balance sheet is b and it is growing continuously. It is on this trust that investors have also eagerly embraced its IPO.
The Journey from DRHP to Final Issue
NSDL had filed its Draft Red Herring Prospectus (DRHP) with SEBI in July 2023. After this, in May 2025, the company also presented a revised document. In this, the issue size was reduced from the earlier 5.72 crore shares to 5.01 crore shares.
This change by the company was made keeping in mind the better success of the IPO and correct price discovery. Its effect was that the IPO was subscribed 1.18 times in the first two days itself.
Increased Confidence Among Investors
NSDL's position is considered extremely important in the Indian financial system. This company provides services to almost all major demat accounts, institutional investors, and financial intermediaries. In such a situation, its IPO was long awaited.
Even before the IPO came, there was discussion about its premium in the market and demand remained in the grey market as well. This clearly indicates that investors have confidence in the company and are positive about its prospects.
