July 25, 2025
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NSDL IPO – 5.01 Cr Share Offer for Sale Opens on July 30
National Securities Depository Limited (NSDL) is coming up with its IPO via the book-building route, comprising an offer for sale (OFS) of 5.01 crore equity shares by existing shareholders. There is no fresh issue component in the IPO.
The issue opens for subscription on July 30, 2025, and closes on August 1, 2025. The allotment is expected to be finalized on August 4, with tentative listing on the BSE scheduled for August 6, 2025.
The price band is yet to be announced.
ICICI Securities Ltd is the book-running lead manager, while MUFG Intime India Pvt Ltd (Link Intime) is acting as the registrar to the issue.
Table of Contents
What is the latest news relating to NSDL IPO?
NSDL is expected to enter the capital market by the end of July 2025. The company will offer 35% of the IPO to the RIIs. The listed peer CDSL is commanding impressive valuation and accordingly, this IPO may fetch strong fancy, provided the valuation is proper.
Who is the promoter of NSDL IPO?
The COMPANY IS A PROFESSIONALLY MANAGED COMPANY AND DOES NOT HAVE AN IDENTIFIABLE PROMOTER
What are the Objects of NSDL IPO?
The objects of the Offer are to
(i) carry out the Offer for Sale of up to 57,260,001 Equity Shares aggregating to Rs. [●] million by the Selling Shareholders; and
(ii) achieve the benefits of listing the Equity Shares on BSE.
What is the business of NSDL?
NSDL is a SEBI registered market infrastructure institution (“MII”) offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, through the Company, it pioneered the dematerialization of securities in India in November 1996. As of March 31, 2023, it is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets held under custody.
Its core depository services provide it with a steady source of recurring revenue, primarily through annual custody fees that it charges issuers of securities and annual maintenance fees it charges depository participants in relation to corporate accounts serviced through its depository platform. It also charge transaction fees to depository participants and issuers of securities for transactions effected through its depository systems.
As on March 31, 2023, it serviced 99.99% of the value of equity, debt and other securities held by foreign portfolio investors in dematerialized form in India. It also held assets in custody aggregating to Rs.43,060.50 billion for individuals (including NRIs) and Hindu Undivided Family (“HUFs”) accounts, which constituted 71.79% of the total value of such assets under custody in dematerialized as of March 31, 2023. Similarly, as of March 31, 2023, it held assets in custody in relation to nonresidents Indians aggregating to Rs.2,725.62 billion, constituting 88.14% of the total value of such assets held by non-residents Indians under custody in dematerialized form across depositories. It also had a market share of 97.84% of the dematerialized value of listed corporate debt securities in custody aggregating to Rs.34,791.58 billion, as on March 31, 2023.
NSDL IPO Details
| IPO opens on | 30 July 2025 |
| IPO closes on | 1 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 57260001 Shares / Rs – Crore |
| * Fresh Issue | – Shares / Rs – Crore |
| * Offer for Sale | 57260001 shares/ Rs.? Crore |
| Face Value per share: | Rs. 2 |
| Price Band | Rs.? |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. ? per share |
| Retail Lot Size | ? Shares |
| Listing will at | BSE, NSE |
|
Shares offered in |
Shares | Rs. in Crore |
| QIB (50 %) | – | – |
| NII (15 %) | – | – |
| RII (35 %) | – | – |
| Employees | – | – |
| Total Shares | 57260001 | ? |
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in NSDL IPO? | Amount Rs. |
|
| Min Retail Application | ? Shares | ? |
| Max Retail Application | ? Shares | ? |
| Small HNI (Min) application | ? Shares | ? |
| Small HNI (Max) application | ? Shares | ? |
| Big HNI Application | ? Shares | ? |
|
What is the timetable of NSDL IPO? |
|
| IPO opens on | 30 July2025 |
| IPO Closes on | 1 August 2025 |
| IPO Allotment on | 4 August 2025 |
| Unblocking of ASBA | 5 August 2025 |
| Credit of Shares | 5 August 2025 |
| Listing on | 6 August 2025 |
| Registered Office of NSDL | |
| Trade World, ‘A’ Wing, 4th Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel (West), Mumbai- 400 013, Maharashtra, India | |
| Who are the Lead Managers of NSDL IPO? ICICI Securities Limited Axis Capital Limited HSBC Securities and Capital Markets IDBI Capital Markets & Securities Ltd Motilal Oswal Investment Advisors Ltd SBI Capital Markets Ltd |
|
| Registrar to IPO | |
|
Link Intime India Pvt ltd |
NSDL IPO Financial Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 2,984.84 | 2,257.74 | 2,093.48 |
| Revenue | 1,535.19 | 1,365.71 | 1,099.81 |
| Profit After Tax | 343.12 | 275.45 | 234.81 |
| EBITDA | 492.94 | 381.13 | 328.6 |
| Net Worth | 2,005.34 | 1,684.10 | 1,428.86 |
| Reserves and Surplus | 232.31 | 216.32 | 199.08 |
| Amount in Rs. Crore | |||
| KPI | Values |
| ROE | 17.11% |
| ROCE | 22.70% |
| RoNW | 17.11% |
| PAT Margin | 22.35% |
| EBITDA Margin | 23.95% |
| EPS/Post IPO | 17.16% |
| PE Ratio-Post IPO |
How NSDL IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) | P/BV Ratio |
| National Securities Depository Ltd. | 17.11 | ||
| Central Depository Services (India) | 68.04 | 29.9 | 20.4 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
NSDL IPO Review
We will update our Review & Guidance, once the price band and other details are announced by the company.
Quicklinks
NSDL IPO
NSDL IPO review
NSDL IPO GMP
The Grey Market Premium (GMP) of NSDL IPO today is updated daily on this page. It reflects the premium at which the IPO shares are trading in the unofficial market.
Based on current GMP trends and market sentiment, the indicative listing price of NSDL IPO can be found in the expert analysis section of this post.
NSDL IPO is actively traded in the grey market. This post provides regular updates on price fluctuations and buying interest.
Daily and final subscription figures for NSDL IPO across retail, QIB, and HNI categories are available here.
You can check your allotment status on the official registrar’s website after the finalization date. A direct link will be provided in this post.
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