IPO

National Securities Depository Limited (NSDL) IPO

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Depositories, Clearing Houses and Other Intermediaries

Listed On: Aug 6, 2025 at ₹ 880.0(BSE)

₹ 14400 /18 Shares

Check Allotment

30 Jul, 2025

Open Date

01 Aug, 2025

Close Date

04 Aug, 2025

Allotment Date

06 Aug, 2025

Listing Date
Price Summary

Last Closing

1,172.20 (46.53%)

52 Week High

1,425.00

52 Week Low

880.00

Last Update

30-Oct-2025 3:59 PM
National Securities Depository Limited (NSDL) IPO Issue Details
  • Issue Price ₹760-800 per equity share
  • Face Value ₹2 Per Equity Share
  • Total Issue Size 5,01,45,001 shares(aggregating up to ₹4011.6 crore)
  • Offer For Sale 5,01,45,001 shares(aggregating up to ₹4011.6 crore)
  • Listing at BSE
  • List Price 880.0(BSE)
  • Listing Date 2025-08-06
  • Lead Manager ICICI Securities Limited
    Axis Capital Limited
    Hsbc Securities & Capital Markets Pvt Ltd
    Idbi Capital Market Services Limited
    Motilal Oswal Investment Advisors Limited
    SBI Capital Markets Limited
  • Registrar MUFG Intime India Private Limited (Link Intime)
Market Lot Size

Investors can bid for a minimum of 18 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min) 118₹14,400
Retail(max)13234₹1,87,200
SHNI(min) 14252₹2,01,600
SHNI(max) 691,242₹9,93,600
BHNI(min) 701,260₹10,08,000
National Securities Depository Limited (NSDL) IPO Reservation

National Securities Depository Limited (NSDL) IPO offers total 5,01,45,001 shares. Out of which 1,00,12,000 (19.97%) allocated to QIB, 75,09,001 (14.97%) allocated to NII,1,75,21,001 (34.94%) allocated to RII, 85,000 (0.17%) allocated to employees and 1,50,17,999 (29.95%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered1,50,17,999 (29.95%)
QIB Shares Offered1,00,12,000 (19.97%)
NII (HNI) Shares Offered75,09,001 (14.97%)
bNII < ₹10L50,06,001 (9.98%)
sNII < ₹10L25,03,000 (4.99%)
Retail Shares Offered1,75,21,001 (34.94%)
Employee Shares Offered85,000 (0.17%)
Total Shares Offered5,01,45,001 (100%)
National Securities Depository Limited (NSDL) IPO Documents
National Securities Depository Limited (NSDL) IPO Details


National Securities Depository Limited (NSDL) IPO is a book-built issue of ₹4011.6 crores, The total issue size is ₹4011.6 crores. The IPO of National Securities Depository Limited (NSDL) is priced at ₹760-800 per equity share, which has a face value of ₹2 Per Equity Share each, IPO bidding starts from Jul 30, 2025 and ends on Aug 1, 2025. The allotment for National Securities Depository Limited (NSDL) IPO will be finalized on Aug 4, 2025. National Securities Depository Limited (NSDL) IPO will be listed on BSE, NSE, with a tentative listing date fixed as Aug 6, 2025. The company shall list its equity shares on the BSE. MUFG Intime India Private Limited (Link Intime) is the registrar of the issue.

Retail investors can bid for a minimum of 18 shares, extendable to 14,400. S-HNIs will be able to bid for 252 shares at ₹2,01,600, while B-HNIs can also apply for a bid of 1,260 shares at ₹10,08,000. The book-running lead manager for the IPO is/are ICICI Securities Limited, Axis Capital Limited, Hsbc Securities & Capital Markets Pvt Ltd, Idbi Capital Market Services Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited.

The total issue ₹4011.6 crore and having Offer for Sale (OFS) of 5,01,45,001 shares to mop up ₹4011.6 crore.

The National Securities Depository Limited (NSDL) IPO sets its price band at 760-800 for each share. A single application for National Securities Depository Limited (NSDL) IPO must contain at least 18 shares. Sentiment investors need to invest a minimum of 18 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,400 In order to participate in the sNII, investors must purchase at least 14 lots of 252 shares for ₹2,01,600, while the bNII requires 70 lots of 1,260 shares for an investment of ₹10,08,000.

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National Securities Depository Limited (NSDL) IPO Subscription Analysis And Details
Retail
7.72x
QIB
103.97x
NII
34.98x
bNII
37.73x
sNII
29.47x
Total
41.00x
As onQIBNII
bNII   sNII
RetailTotal
Shares Offered / Reserved1,00,12,00075,09,001
50,06,001    25,03,000
1,75,21,0013,51,27,002
Day 1 30-07-25 05:00 PM
0.84 x2.83
2.26 x   3.97 x
1.87 x1.78 x
Day 2 31-07-25 05:00 PM
1.96 x11.08
10.44 x   12.36 x
4.17 x5.03 x
Day 3 01-08-25 05:00 PM
103.97 x34.98
37.73 x   29.47 x
7.72 x41.00 x

Total No of Applications
51,95,870
Subscription on the basis of Applications
Retail:5.0x BHNI:6.91x SHNI:26.63x
National Securities Depository Limited (NSDL) Valuations
EPS Pre IPO ₹17.16/-
EPS Post IPO ₹/-
P/E Pre IPO 46.63
ROE 17.11%
ROCE 22.70%
RoNW 17.11%
PAT Margin 22.35%
Price to Book Value 7.98
National Securities Depository Limited (NSDL) Company Financials
In Crs.
In Cr.
31-Mar-2531-Mar-2431-Mar-23
Assets2,984.842,257.742,093.48
Revenue1,535.191,365.711,099.81
Profit After Tax343.12275.45234.81
Net Worth2,005.341,684.101,428.86
Reserves & Surplus232.31216.32199.08
About National Securities Depository Limited (NSDL) Company

National Securities Depository Limited (NSDL) is registered as SEBI-based Market Infrastructure Institution (MII) and was incorporated in 2012, being an essential aspect of capital market infrastructure in India. Being one of the major securities depository, the main responsibilities of NSDL are to maintain an electronic record of securities, as well as enable ownership and allotment transfers, facilitate trade settlement and facilitating allotment and transfer of ownership. Its services cover pledging of securities, off-market transfer, corporate actions as well as asset servicing of dematerialized securities. Other digital services that NSDL provides include e-voting, consolidated account statements (CAS) and non-disposal undertakings (NDU).

There are two important subsidiaries of NSDL. NSDL Database Management Ltd. (NDML) provides e-governance services and regulatory services, administers the National Skills Registry and helps to automate SEZs. NSDL Payments Bank Ltd. (NPBL) is a B2B digital bank that provides domestic remittances, AePS, UPI, micro-ATMs, savings account and distribution of third party products.

On March 31, 2025, there were 39.45 million active demat accounts in NSDL, 294 registered depository participants and 33,758 registered issuers. It covers the account holders in more than 99 percent of the Indian PIN codes and 186 nations, which is an indicator of its large presence within the country and around the world.

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National Securities Depository Limited (NSDL) - Promoter(s)

Pre Issue Share Holding : N/A%

Post Issue Share Holding : N/A%

National Securities Depository Limited (NSDL) IPO - Issue Objectives
1

Carrying out the offer for sale of up to 5,72,60,001 equity shares million by the selling shareholders.

2

Achieve the benefits of listing the equity shares on BSE.

National Securities Depository Limited (NSDL) IPO - Anchor Investors

NSDL IPO: Institutional investors purchase Rs 1,201 crore shares through anchor book.
Global investors investing in NSDL through anchor book were Smallcap World Fund, Government Pension Fund Global, Abu Dhabi Investment Authority, Ashoka Whiteoak, Florida Retirement System, Allianz Global, Manulife Global Fund, Tocu Europe, Amundi Funds, and Eastspring Investments.
A number of domestic institutional investors such as Life Insurance Corporation (LIC), SBI Mutual Fund, ICICI Prudential Mutual Fund, Whiteoak Capital, HDFC AMC, Fidelity Funds, Nippon Life, Aditya Birla Sun Life AMC, Axis Mutual Fund, UTI AMC, SBI Life Insurance, Mirae Asset, HDFC Life Insurance, 360 ONE Equity Opportunity Fund, JM Financial MF, Tata Investment Corporation, and LIC MF also entered their name in the list of shareholders by anchor book investment.

National Securities Depository Limited (NSDL) IPO - Peers Comparison
P/B RatioP/E RatioRoNWRevenue(in Cr.)
NSDLN/AN/A17.11%1535
CDSL20.4068.0429.90%1199
Strength
India’s largest depository, holding 88.39% securities by value.
Introduced dematerialisation, transforming India’s securities settlement landscape forever.
Stable recurring revenue from annual custody and service fees.
Experienced leadership team averaging 20+ years in financial services.
Weakness
A shift in investor preference away from securities could reduce revenue.
Business is vulnerable to external market factors like inflation and GDP.
Failure to innovate or adopt new tech may impact future growth.
System glitches or cyberattacks could harm NSDL’s operations and image.
Contact Details

National Securities Depository Limited (NSDL)

Trade World, ‘A’ Wing, 4 th Floor, Kamala Mills Compound, Senapati Bapat Marg,Lower Parel (West), Mumbai, Maharashtra, 400013

+91 22 2499 4200

cs_nsdl@nsdl.com

https://nsdl.co.in/

Registrar Contact Details

MUFG Intime India Private Limited (Link Intime)

+91-22-4918 6270

nsdl.ipo@linkintime.co.in

https://in.mpms.mufg.com/Initial_Offer/public-issues.html