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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
NSDL?

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.

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NSDL IPO GMP

What is the GMP of NSDL IPO today?

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.

What is the expected listing price of NSDL IPO?

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.

How is NSDL IPO performing in the grey market?

NSDL IPO is actively traded in the grey market. This post provides regular updates on price fluctuations and buying interest.

What is the subscription status of NSDL IPO?

Daily and final subscription figures for NSDL IPO across retail, QIB, and HNI categories are available here.

Where can I check allotment status of NSDL IPO?

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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