National Securities Depository Limited IPO
National Securities Depository Limited IPO
Price Band
₹760 - ₹800
Total Issue
₹4,010.95 Cr
Bid Dates
30 Jul - 01 Aug
Subscription
41.01x
Est. GMP
₹126 (15.75%)
Tentative Timetable
Business Overview
NSDL offers a comprehensive suite of products and services to support India’s financial and securities markets. Following the enactment of the Depositories Act in 1996, the company played a pioneering role in the dematerialization of securities, launching India’s first demat services in November 1996. As of March 31, 2023, the company stands as India’s largest depository by several key metrics, including the number of issuers, active instruments, market share in demat value, settlement volume, and value of assets under custody. Its core service is the facilitation of Demat Accounts through depository participants, enabling investors to hold securities in digital form.
Lot Info
| Category | 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 |
Category Reservation
Issue Size
Objects of Issue
The issue is a complete Offer for Sale (OFS). The company will not receive any funds from the issue, entire proceeds will be received by the Selling Shareholder(s).
Selling Shareholders:
- IDBI Bank Limited - 22,220,000 EQ Shares
- National Stock Exchange of India Limited - 18,000,001 EQ Shares
- Union Bank of India - 500,000 EQ Shares
Grey Market Premium
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 05 Aug | ₹126 (15.8%) | ₹926 |
| 04 Aug | ₹124 (15.5%) | ₹924 |
| 01 Aug | ₹131 (16.4%) | ₹931 |
| 29 Jul | ₹135 (16.9%) | ₹935 |
| 28 Jul | ₹140 (17.5%) | ₹940 |
| 25 Jul | ₹151 (18.9%) | ₹951 |
| 22 Jul | ₹168 (21%) | ₹968 |
| 21 Jul | ₹152 (19%) | ₹952 |
NSDL IPO Peer Comparison
(Rs. in crores)
| Particulars | NSDL | CDSL |
|---|---|---|
| Revenue from Ops (in Crs.) | 1,420.15 | 1,082.21 |
| PAT (In Crs.) | 343.12 | 526.33 |
| EPS - Basic | 17.16 | 25.20 |
| NAV per share | 100.27 | 84.23 |
| ROE | 17.11% | 29.90% |
| PAT Margin | 22.35% | 48.63% |
| Price to earning (PE) | 46.62 | 68.04 |
| Demat Accounts (In Cr) | 3.95 | 15.30 |
| Demat custody value (In Lakh Cr) | 46.41 | 7.05 |
- All information pertains to FY 2024-25.
- The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of July 22, 2025 for Peers
Financial Performance
(Rs. in crores)
| Particulars | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Revenue from Operations | 1,420.15 | 1,268.24 | 1,021.99 |
| Profit after Tax | 343.12 | 275.45 | 234.81 |
| Net Worth | 2,005.34 | 1,684.10 | 1,428.86 |
| Total Borrowing | 0.00 | 0.00 | 0.00 |
| Total Assets | 2,984.84 | 2,257.74 | 2,093.48 |
| NAV per share (in ₹) | 100.27 | 84.20 | 71.44 |
| EPS - Basic (in ₹) | 17.16 | 13.77 | 11.74 |
KPIs
Demat custody val (In Lk Cr)
46.41
Demat Accounts (In Cr)
3.95
Issuers
79,773
PAT
22.35%
ROE
17.11%
PE Ratio
46.62
PB Ratio
7.98
Mkt Cap (in Crs.)
16,000.00
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Shareholding
Promoter
0.00%
Public
100.00%
Management
Subscription Status
Updated as on 01-Aug-2025 19:00:00
| Category | Sub (x) | Offered | Bids |
|---|---|---|---|
| QIB | 41.59 | 2,50,30,001 | 1,04,09,16,654 |
| NII | 34.98 | 75,09,000 | 26,26,81,758 |
| bHNI | 37.73 | 50,06,000 | 18,88,92,540 |
| sHNI | 29.48 | 25,03,000 | 7,37,89,218 |
| Retail | 7.73 | 1,75,21,000 | 13,54,82,994 |
| Employee | 15.42 | 85,000 | 13,10,598 |
| Total | 28.72 | 5,01,45,001 | 1,44,03,92,004 |
Frequently Asked Questions
What is NSDL IPO?
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How to check allotment status of NSDL IPO?
How to apply NSDL IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply NSDL IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply NSDL IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select NSDL IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date