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NSDL IPO is a book build issue of ₹4,010.95 crores. The issue is entirely an offer for sale of 5.01 crore shares of ₹4,010.95 crore.
NSDL IPO bidding started from Jul 30, 2025 and ended on Aug 1, 2025. The allotment for NSDL IPO was finalized on Aug 4, 2025. The shares got listed on BSE on Aug 6, 2025.
NSDL IPO price band is set at ₹800.00 per share . The lot size for an application is 18. The minimum amount of investment required by an retail is ₹13,680 (18 shares). The lot size investment for sNII is 14 lots (252 shares), amounting to ₹2,01,600, and for bNII, it is 70 lots (1,260 shares), amounting to ₹10,08,000.
The issue includes a reservation of up to 85,000 shares for employees offered at a discount of ₹76.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
| IPO Date | July 30, 2025 to August 1, 2025 |
| Listing Date | August 6, 2025 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹760 to ₹800 per share |
| Issue Price Final | ₹800 per share |
| Lot Size | 18 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 5,01,45,001 shares (aggregating up to ₹4,010.95 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 |
NSDL IPO offers total 5,01,45,001 shares. Out of which 2,50,29,999 (49.92%) allocated to QIB, 1,00,12,000 (19.97%) allocated to QIB (Ex- Anchor), 75,09,001 (14.97%) allocated to NII 1,75,21,001 (34.94%) allocated to RII and 1,50,17,999 (29.95%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,50,29,999 (49.92%) | NA |
| − Anchor Investor Shares Offered | 1,50,17,999 (29.95%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,00,12,000 (19.97%) | NA |
| NII (HNI) Shares Offered | 75,09,001 (14.97%) | NA |
| − bNII > ₹10L | 50,06,001 (9.98%) | 19,865 |
| − sNII < ₹10L | 25,03,000 (4.99%) | 9,932 |
| Retail Shares Offered | 1,75,21,001 (34.94%) | 9,73,388 |
| Employee Shares Offered | 85,000 (0.17%) | NA |
| Total Shares Offered | 5,01,45,001 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 2 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
NSDL IPO raises ₹1,201.44 crore from anchor investors. NSDL IPO Anchor bid date is July 29, 2025. NSDL IPO Anchor Investors list
| Bid Date | July 29, 2025 |
| Shares Offered | 1,50,17,999 |
| Anchor Portion Size (In Cr.) | 1,201.44 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 2, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 1, 2025 |
NSDL IPO opens on July 30, 2025, and closes on August 1, 2025.
| 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 Fri, Aug 1, 2025 |
Investors can bid for a minimum of 18 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Incorporated in 2012, National Securities Depository Limited (NSDL) is SEBI-registered Market Infrastructure Institution (MII).
Core Activities:
Subsidiaries:
Key Figures (as of March 31, 2025):
Competitive Strengths:
National Securities Depository Ltd.'s revenue increased by 12% and profit after tax (PAT) rose by 25% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 2,984.84 | 2,257.74 | 2,093.48 |
| Total Income | 1,535.19 | 1,365.71 | 1,099.81 |
| Profit After Tax | 343.12 | 275.45 | 234.81 |
| EBITDA | 492.94 | 381.13 | 328.60 |
| Net Worth | 2,005.34 | 1,684.10 | 1,428.86 |
| Reserves and Surplus | 232.31 | 216.32 | 199.08 |
| Amount in ₹ Crore | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 17.11% |
| ROCE | 22.7% |
| RoNW | 17.11% |
| PAT Margin | 22.35% |
| EBITDA Margin | 23.95% |
| Price to Book Value | 7.98 |
| Market Capitalization | ₹16,000.00 Cr. |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 17.16 | |
| P/E (x) | 46.63 |
The Company NSDL IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Achieve the benefits of listing the Equity Shares on BSE |
[Dilip Davda] NSDL is engaged as a pioneer in depository services in India and is an ice breaker for the demat process. The company is expanding its horizon with more value-added services and options. The company posted steady growth in its top and bottom lines. It paid dividends for FY23 and FY24 at 50%. Based on its recent financial data, the issue appears fully priced. Investors may grab this opportunity to invest in this evergreen company for medium to long term. Read detail review...
| Listing Date | August 6, 2025 |
| BSE Script Code | 544467 |
| NSE Symbol | |
| ISIN | INE301O01023 |
| Final Issue Price | ₹800 per share |
| BSE Listing Group | B (Rolling) |
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹800.00 |
| Open | ₹880.00 |
| Low | ₹880.00 |
| High | ₹943.85 |
| Last Trade | ₹936.00 |
National Securities Depository Ltd.
3rd Floor, Naman Chamber,
Plot C-32, G-Block,
Bandra Kurla Complex, Bandra East,
Mumbai, Maharashtra, 400051
Phone: +91 22 2499 4200
Email: cs_nsdl@nsdl.com
Website: https://nsdl.co.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: nsdl.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Lead Manager Reports
NSDL IPO is a main-board IPO of 5,01,45,001 equity shares of the face value of ₹2 aggregating up to ₹4,010.95 Crores. The issue is priced at ₹800 per share. The minimum order quantity is 18.
The IPO opens on July 30, 2025, and closes on August 1, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE.
Zerodha customers can apply online in NSDL IPO using UPI as a payment gateway. Zerodha customers can apply in NSDL IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in NSDL IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The NSDL IPO opens on July 30, 2025 and closes on August 1, 2025.
NSDL IPO lot size is 18, and the minimum amount required for application is ₹14,400.
You can apply in NSDL IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for NSDL IPO will be done on Monday, August 4, 2025, and the allotted shares will be credited to your demat account by Tuesday, August 5, 2025. Check the NSDL IPO allotment status.
The NSDL IPO listing date is on Wednesday, August 6, 2025.
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