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National Securities Depository Limited IPO
The National Securities Depository Limited IPO is an Offer for Sale (OFS) totaling approximately ₹4,000 crores, with the price band fixed between ₹760 and ₹800 per share. The subscription window is from 30th July 2025 to 1st August 2025. Retail investors can apply for a minimum lot size of 18 equity shares, with a minimum investment of around ₹14,400 at the upper price band. The allotment results will be finalized by 4th August 2025, followed by refund initiation on 5th August 2025. The shares are expected to be listed on the BSE and NSE by 6th August 2025. This IPO is a 100% offer for sale, meaning proceeds will go to existing shareholders without any fresh shares issued by NSDL.
Company Background
National Securities Depository Limited (NSDL) is India's first and largest depository and was incorporated in 1996. Since then, it has played a central role in changing the Indian capital market by converting it from a paper-based one to an electronic one. NSDL provides services in the areas of corporate actions of securities, settlement, securities transfer and dematerialisation. The company is regulated by the Securities and Exchange Board of India (SEBI) and has played a vital role in establishing the infrastructure of an efficient and transparent securities market in India.
Operations & Product Range
Facility and Production
The main business of NSDL is electronic custody and transfer of securities. It caters to a huge network of depository participants and investors in India and manages several crore demat accounts. NSDL offers a broad range of services, such as dematerialization of shares, rematerialization, pledge & hypothecation of securities, e-voting facilities & registrar and transfer agent services. The company has been in constant investment to enhance its technology infrastructure to guarantee security, speed and efficiency in transactions involving securities.
Brand and Market Presence
NSDL enjoys a monopolistic market share in the securities market ecosystem of India, as it is the largest depository in terms of assets under custody. It enjoys a strong brand presence with rich regulatory compliance and technological reliability. Having over 4.5 crore active demat accounts, NSDL serves a large chunk of retail and institutional investors. The company works with major banks, brokers and financial institutions in the country.
Revenue Channels
NSDL's revenues primarily come from:
- • Transaction fees from dematerialization, rematerialization and transfer of securities.
- • Demat account annual maintenance fees.
- • Charges on additional services like e-voting, pledge and processing of corporate actions.
- • Fees for the delivery of technology solutions and other services to the market players.
Management & Shareholding
Promoters and Shareholders
An alliance of financial institutions, including the Industrial Development Bank of India (IDBI), the Life Insurance Corporation of India (LIC) and other banks and financial institutions, is the promoter of the NSDL IPO. The shareholding of promoters is likely to be diluted after the post-listing, but it will maintain a strong control to be able to provide strategic direction and regulatory
Board Members
The board of NSDL IPO features seasoned professionals from finance, technology & governance sectors, including a Chairman, a Managing Director & CEO and independent directors with expertise in regulatory compliance and capital markets.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
National Securities Depository Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
National Securities Depository Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 30, 2025 to August 1, 2025 |
| Listing Date | - |
| Face Value | ₹2 per share |
| Issue Price Band | ₹760 to ₹800 per share |
| Lot Size | 18 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 5,01,45,001 shares (aggregating up to ₹4,011.60 Cr) |
| Employee Discount | ₹76.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE |
| Share Holding Pre Issue | 20,00,00,000 shares |
| Share Holding Post Issue | 20,00,00,000 shares |
National Securities Depository Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Wed, Jul 30, 2025 |
| IPO Close Date | Fri, Aug 1, 2025 |
| Tentative Allotment | Mon, Aug 4, 2025 |
| Initiation of Refunds | Tue, Aug 5, 2025 |
| Credit of Shares to Demat | Tue, Aug 5, 2025 |
| Tentative Listing Date | Wed, Aug 6, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2025 |
National Securities Depository Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,400 |
| Retail (Max) | 13 | 234 | ₹1,87,200 |
| S-HNI (Min) | 14 | 252 | ₹2,01,600 |
| S-HNI (Max) | 69 | 1,242 | ₹9,93,600 |
| B-HNI (Min) | 70 | 1,260 | ₹10,08,000 |
National Securities Depository IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
National Securities Depository Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| - | - |
Competitive Strength:
- ● Pioneer and market leader in securities depository services in India.
- ● An extensive nationwide network and association with banks and brokers.
- ● Continuous investment in technology and compliance helps NSDL stay on top of changes in regulations and the market.
- ● Continuous investment in technology and compliance helps NSDL stay on top of changes in regulations and the market.
National Securities Depository Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 2,984.84 | 1,535.19 | 343.12 | 2,005.34 | - | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 2,257.74 | 1,365.71 | 275.45 | 1,684 | - | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 2,093.48 | 1,099.81 | 234.81 | 1,428.86 | - | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 17.11% |
| ROCE | 22.70% |
| RoNW | 17.11% |
| PAT Margin | 22.35% |
| EBITDA Margin | 23.95% |
| Price to Book Value | 7.98 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 17.16 | |
| P/E (x) | 46.63 |
Objectives of National Securities Depository Limited IPO
The funds obtained by the NSDL IPO will be mainly utilized in:
- Increasing and improving technological infrastructure to accommodate the increased volume of transactions.
- Diversification of services through strategic acquisitions and partnerships.
- General corporate purposes, including working capital and business development initiatives.
Conclusion
National Securities Depository Limited IPO is a chance to invest in a market-leading entity that is a part of the Indian securities market infrastructure. NSDL has a solid technology platform, a large investor base and good governance, which places it in a good position to enjoy the growing financial markets in India. Investors seeking a stable, growth-focused company that is deeply rooted in the ecosystem of capital markets may be interested in the NSDL IPO.
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Frequently asked Questions (FAQs )
-
How big is the National Securities Depository Limited IPO and what is the pricing range?
The NSDL initial public offering (IPO) is a sale of roughly 4,000 crores at a price range of 760 to 800 rupees per share.
-
When will the IPO be open for subscription?
The subscription window is from 30th July 2025 to 1st August 2025.
-
Who are the promoters of NSDL?
The promoters are major Indian financial institutions, including LIC and IDBI, among others.
-
What is the minimum amount that retail investors must invest?
Retail investors must apply for a minimum of 18 shares, amounting to about ₹13,680 at the lower price band.
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