The initial public offering (IPO) of National Securities Depository Limited (NSDL) closes today, August 1, 2025. The book built offer opened on July 30 and has drawn strong investor interest across all categories.
Subscription Status: Oversubscribed 18.45 times
NSDL IPO recorded overall subscriptions of approximately 18.45 times by the third and final day of its IPO bidding. The response from the investor is high and indicate broad confidence by Non-Institutional Investors subscribed to 31.71x and Qualified Institutional Buyers (QIBs) 28.63x.
However, retail investors has shown low confidence with a subscription of 6.98x, due to market volatility.
Timeline & Key Dates
• Issue Start Date: July 30, 2025
• Issue End Date: August 1, 2025 (today)
• Basis of Allotment: August 4, 2025
• Refund Initiation / Share Credit: August 5, 2025
• Listing Date: August 6, 2025 on NSE/BSE
Key IPO Details at a Glance
• Issue Structure: Fully an Offer for Sale (OFS) of 50.15 million shares by existing stakeholders
• Issue Size: ₹4,011.60 crore (₹4,012 crore)
• Price Band: ₹760–₹800 per share
• Lot Size: 18 shares (minimum retail investment ₹14,400)
• Employee Discount: ₹76 per share for eligible employees
• Exchanges: NSE and BSE
• Registrar: MUFG Intime India Private Limited
• Managers & Sponsors: ICICI Securities, Axis Capital, HSBC, SBI Capital, IDBI Capital, Motilal Oswal, HDFC Bank; Sponsor banks include Axis, HDFC, ICICI and Kotak Mahindra
Consolidated Bid Details
- Total Subscription: 18.45x
- Retail Individual Investors (RIIs): 6.98
- Retail Investors (Employees): 12.72x
- Non-Institutional Investors: 31.71x
- Qualified Institutional Buyers (QIBs): 28.63
(Data: Aug 01, 2025 | 14:53)
Company Snapshot
Established in Mumbai in 1996, NSDL is India’s first and largest securities depository with approximately 86% market share in assets held in demat form. As of March 2025, its demat accounts held assets worth over ₹400 lakh crore across nearly 3.9 crore active accounts, reflecting significant scale and infrastructure role.
In FY25, the company reported revenue of ₹1,535 crore (up 12%) and a net profit of ₹343 crore (up 25%), supported by stable annuity-style earnings
Why This IPO Demands Attention
• NSDL is viewed as a critical financial-market institution with high entry barriers, annuity-style cash flows, and regulatory relevance.
• Its dominant infrastructure position and expanding fintech initiatives through subsidiaries (e governance, payments bank, digital platforms) support long-term growth
• With over ₹1,200 crore mobilised from anchor investors, including LIC and Capital International, the election signifies strong institutional endorsement
(Disclaimer: This article is informational and not financial advice. Investors should review the prospectus and consult a registered financial advisor before making investment decisions.)
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