NSDL IPO Day 1: Investors Alert! Surges With Premium And Strong Demand — Complete Guide Inside

The National Securities Depository Ltd (NSDL) kicked off its much-anticipated IPO today, and the buzz is real! With a price band set between ₹760 and ₹800 per share, NSDL aims to raise ₹4,011.60 crore entirely through an Offer For Sale (OFS). Ready to jump in? The grey market is already heating up, offering a juicy ₹135 premium—hinting at a potential 17% listing gain. By 11:40 AM, the IPO subscription clocked in at 0.53 times overall. Retail investors showed solid interest with 0.71 times subscription, but the big players—Qualified Institutional Buyers (QIBs)—are taking it slow, subscribed just 0.02 times. Are you watching closely? Whether you’re a seasoned investor or a first-timer, today’s NSDL IPO action could set the tone for your portfolio. So, are you planning to apply or wait and watch?

NSDL IPO Details: Price Band, Lot Size, and Timelines

• Price Band: ₹760 to ₹800 per equity share
• Total Raise: ₹4,011.60 crore (entirely Offer For Sale)
• Lot Size: 18 shares per lot
• Minimum Investment: ₹14,400 (at upper price band)
• IPO Closing Date: August 1, 2025
• Share Allocation Date: Expected August 2, 2025
• Listing Date: Expected August 5, 2025 (NSE & BSE)
• Registrar: MUFG Intime India Private Limited
• Lead Managers: ICICI Securities, Axis Capital, HSBC Services, IDBI Capital Market, Motilal Oswal, SBI Capital.

NSDL IPO Subscription Status: Retail Shines, QIBs Slow

By midday on NSDL’s IPO opening day, retail investors showed solid interest with a 0.71 times subscription—pretty decent, right? Non-Institutional Investors (NIIs) weren’t far behind at 0.80 times, but Qualified Institutional Buyers (QIBs) surprised everyone by lagging at just 0.02 times. Overall, the IPO saw 0.53 times subscription. What’s interesting is the grey market premium (GMP) sitting at ₹135, signaling strong demand, especially among retail investors. Are you wondering why the big institutional players are holding back? Experts think this cautious approach might change soon, considering NSDL’s strong market position and the huge potential in India’s capital markets. Will QIBs jump in before the IPO closes? Keep watching!

Expert Reviews On NSDL IPO: “Subscribe For The Long Term”

• Gaurav Goel, Founder & Director at Fynocrat Technologies, recommends a “Subscribe for the long term” tag, highlighting NSDL’s annuity-style income, strong margins, and dominant market role.

• Anand Rathi values NSDL at 46.6 times FY25 earnings, pointing out risks like limited service expansion and heavy reliance on transaction-based revenues.

• Angel One supports subscription, emphasizing India’s growing securities market and increasing demat account penetration at 13.4%, but notes risks from regulatory pressures and competition with CDSL.

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• Bajaj Broking also favors subscribing for the long term, warning about volume-dependent revenues and external factors affecting transaction activity. 

Should You Apply? Key Points To Consider

• The IPO offers a rare chance to invest in India’s securities infrastructure backbone.
• All proceeds go to selling shareholders; NSDL won’t receive fresh funds.
• Grey market premium indicates attractive listing gains.
• Risks include market competition, regulatory changes, and revenue dependence on transaction volumes.
• Experts suggest a “Subscribe” rating for investors with a long-term view.

(With Inputs)

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