NSDL IPO Opens Today: Largest depository set price band at Rs 760–800 for Rs 4,011-crore issue

The initial public offering (IPO) of largest depository, National Securities Depository Ltd (NSDL), opened for public subscription on Wednesday, July 30, aimed at raising Rs 4,011 crore. The issue, however, is fully an offer for sale (OFS).

The company has fixed the price band between Rs 760 and Rs 800. At the upper end of the price band, the issue values the depository at approximately Rs 16,000 crore. Investors can apply for 18 shares in a lot, translating to a minimum investment of Rs 14,400.

The public issue, which is entirely an offer for sale (OFS), will close on August 1. The IPO comprises 5.01 crore shares to be offloaded by existing shareholders, including the National Stock Exchange (NSE), State Bank of India, HDFC Bank, IDBI Bank, Union Bank of India, and the Administrator of SUUTI.

Ahead of its IPO opening, the company has raised Rs 1,201 crore from anchor investors.

NSDL financial performance

For FY25, NSDL reported a 24.6 per cent rise in net profit to Rs 343 crore, while total income rose 12.4 per cent year-on-year to Rs 1,535 crore.

NSDL IPO allocation structure

The offer has been structured with 50 per cent of the issue reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and 15 per cent for non-institutional investors.

NSDL IPO BRLMs, registrar

The IPO is being managed by ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital, Motilal Oswal Investment Advisors, and SBI Capital Markets, while MUFG Intime India (Link Intime) is appointed as registrar.

NSDL IPO listing date

The NSDL stock likely to debut on the NSE on Wednesday, August 6.

The listing will make NSDL the second depository in India to be publicly traded, following Central Depository Services (India) Ltd (CDSL), which listed on the NSE in 2017.

About NSDL

Founded in 1996 following the enactment of the Depositories Act, NSDL was the first institution to dematerialise securities in India. It is a Sebi-registered market infrastructure institution serving the Indian financial ecosystem.