National Securities Depository Ltd. IPO

NSDL IPO is a book-built offer of Rs 4,011.60 crores, consisting entirely of an offer for sale of 5.01 crore shares. The IPO opens for subscription on July 30, 2025, and closes on August 1, 2025. The allotment is expected on August 4, with a tentative listing date on BSE set for August 6, 2025. The price band is fixed at Rs 760 to Rs 800 per share. Retail investors can apply with a minimum investment of Rs 13,680 for 18 shares. For sNII, the minimum application is Rs 2,01,600 (252 shares), and for bNII, it is Rs 10,08,000 (1,260 shares). ICICI Securities is the lead manager, and Link Intime is the registrar for the issue.

RHP
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DRHP
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Open Date

2025-07-30

Close Date

2025-08-01

National Securities Depository Ltd. IPO Details

Check out the issue details for National Securities Depository Ltd. IPO as disclosed in SEBI.

Price Band

₹ 760 - 800

Issue Size

4011.6 Cr.

Issue Type

Book Built

Open

2025-07-30

Close

2025-08-01

Listing Date

2025-08-06

Company Financials

You can get the following financial statements of National Securities Depository Ltd. as of now.

NSDL IPO Details

The details about the NSDL IPO are as follows:

  • The issue size of the IPO is 5.01 Cr shares.
  • The price band for NSDL IPO is Rs 760 to Rs 800.
  • The shares of NSDL IPO will list on BSE and NSE on 6th August 2025.
  • The latest tentative GMP of NSDL IPO is Rs 127.
  • The shares of NSDL IPO are subscribed 41.02 Times.
  • Visit Zerodha to Apply for NSDL IPO now. 

 

NSDL IPO Valuation

The approximate valuation of NSDL IPO based on its price band and RHP is:

Particulars Value
Upper Price Band Rs 800
Existing Shares (Qty) 20 Cr 
Fresh Issue Rs 0 Cr
Market Cap Rs 16,000 Cr
EPS (FY25) Rs 17.16
PE Ratio 46.62x
Industry PE 68.04x

 

NSDL IPO Issue Size

NSDL IPO issue size is Rs 4011.60 Cr.

Issue Amount
Fresh Issue Rs 0 Cr
Offer For Sale Rs 4011.60 Cr

 

NSDL IPO Market Lot

An individual can apply for a minimum of 1 lot of 18 shares and a maximum of 13 lots (234 shares). Find the details below:

Application Lot Shares Amount
Retail Minimum 1 18 Rs 14,400
Retail Maximum 13 234 Rs 1,87,200

 

NSDL IPO Share Offer

The shares of NSDL IPO are subscribed 41.02 Times. The category-wise shares offered are as follows:

Category % Offered
Qualified Institutional Not more than 50%
Non-Institutional Not more than 15%
Retail Individual Not more than 35%

 

NSDL IPO GMP (Grey Market Premium)

As on GMP (Tentative)
25 July 2025 Rs 167
28 July 2025 Rs 137
30 July 2025 Rs 127
31 July 2025 Rs 137
2 August 2025 Rs 127

NSDL IPO GMP is purely for informational purposes. Invest in an IPO after thoroughly researching on your own.

NSDL IPO Dates

Find below the dates for NSDL IPO

Schedule Date
Basis of Allotment 4 Aug 2025
Refunds 5 Aug 2025
Credit to Demat Account 5 Aug 2025
IPO Listing Date 6 Aug 2025

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Net Sales 249.59 335.58 369.28 409.17 473.06
Total Expenditure 147.74 154.99 179.95 203.4 231.49
Operating Profit 101.84 180.59 189.33 205.77 241.57
Other Income 40.87 53.12 58.04 76.34 98.4
Interest 0.14 0.11 1.61 0.1 0.1
Depreciation 4.76 7.43 9.98 10.34 12.35
Exceptional Items 0 0 0 0 0
Profit Before Tax 137.81 226.16 235.78 271.68 327.52
Provision for Tax 29.4 50.03 52.2 60.86 69.44
Net Profit 108.41 176.14 183.59 210.82 258.08
Adjusted EPS (Rs.) 2.71 4.4 4.59 1.05 1.29

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity and Liabilities
Share Capital 40 40 40 40 40
Total Reserves 717.23 877.73 1040.41 1231.59 1468.57
Borrowings 0 0 0 0 0
Other N/C liabilities 0.04 -0.64 -2.11 -2.66 -3.52
Current liabilities 168.89 331.04 320.75 358.1 332.86
Total Liabilities 926.17 1248.14 1399.04 1627.02 1837.9
Assets
Net Block 22.38 34.65 34.51 33.44 247.76
Capital WIP 0 0 0 0.24 0.41
Intangible WIP 0 6.52 0 2.79 8.63
Investments 682.44 677.07 718.07 1107.81 1188.76
Loans & Advances 24.74 11.13 10.97 19.88 39.62
Other N/C Assets 0.91 115.93 166.15 14.37 19.66
Current Assets 195.7 402.84 469.34 448.49 333.06
Total Assets 926.17 1248.14 1399.04 1627.02 1837.9
* Other Non-current Liabilities include Net deferred Liabilities

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Profit from operations 137.81 226.16 235.78 271.68 327.52
Adjustment -18.5 -20.32 -17.33 -35.63 -51.3
Changes in Assets & Liabilities 1.83 -177.72 -37.94 164.38 -36.56
Tax Paid -35.04 -41.42 -62.23 -67.15 -69.52
Operating Cash Flow 86.1 -13.3 118.28 333.28 170.13
Investing Cash Flow -98.95 28.73 -87.11 -320.9 -151.26
Financing Cash Flow -14.47 -16 -20 -20 -20
Net Cash Flow -27.32 -0.57 11.18 -7.62 -1.12

NSDL IPO: News, Dates, Price Band, and Complete Analysis

The National Securities Depository Ltd. (NSDL), India's largest securities depository, is launching its Initial Public Offering (IPO), an event keenly watched by the market. This page on Finology Ticker provides all the essential information you need, from the latest news and issue details to an in-depth analysis of the company.

The NSDL IPO is scheduled to open for public subscription on 30 July 2025 and will close on 1 August 2025. The price band for the issue has been fixed at Rs 760 to Rs 800 per share. This public issue is expected to be one of the biggest in the country this year.

Latest News & Key Details of the NSDL IPO

The IPO is purely an Offer for Sale (OFS) of 5.01 crore shares, aiming to raise approximately Rs 4,011 crore at the upper end of the price band. Since it is an OFS, NSDL itself will not receive any proceeds from the public issue.

The primary purpose of the IPO is to allow existing shareholders to reduce their stake to comply with regulatory ownership norms set by the Securities and Exchange Board of India (SEBI).

Key shareholders offloading their stakes include:

  • National Stock Exchange of India (NSE)

  • State Bank of India (SBI)

  • IDBI Bank

  • HDFC Bank

  • Union Bank of India

  • Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI)

With this listing, NSDL will become the second depository to be traded on the stock exchanges in India, after Central Depository Services (CDSL). Investors can bid for a minimum of 18 shares, making the minimum investment ?14,400 at the upper price band. The allotment of shares is expected to be finalised on 4 August 2025, with a tentative listing on the BSE on 6 August 2025.

For comprehensive information on the NSDL IPO, including live subscription status, in-depth analysis, and allotment details, Finology Ticker is your definitive source. All data and updates regarding the NSDL public issue are available on this page.

Frequently Asked Questions (FAQs)

Q1: What are the key dates for the NSDL IPO?
The NSDL IPO will be open for subscription from 30 July 2025 to 1 August 2025. Bidding for anchor investors will begin on 29 July 2025.

Q2: What is the price band and lot size for the NSDL IPO?
The price band is set at  Rs  760 - Rs 800 per share. Investors must apply for a minimum lot of 18 shares, requiring a minimum investment of ?14,400.

Q3: Is the company raising funds for its business through this IPO?
No, the IPO is an entirely Offer for Sale (OFS), which means the company will not receive any of the proceeds. The money will go to the selling shareholders who are reducing their ownership.

Q4: Who are the major shareholders selling their stake in the NSDL IPO? 
Major financial institutions like the National Stock Exchange (NSE), State Bank of India (SBI), HDFC Bank, and IDBI Bank are among the shareholders selling their shares in the IPO.

Q5: How does NSDL differ from its listed peer, CDSL?
NSDL has a stronger focus on institutional clients and has diversified into banking through its subsidiary, NSDL Payments Bank. In contrast, CDSL primarily serves retail investors. While NSDL leads in the value of assets under custody, CDSL has a higher number of demat accounts.

Q6: Where can I find all the information about the NSDL IPO?
All the information about the NSDL IPO is available here on this page on Finology Ticker. You can find the issue details, price band, company financials, and the latest news to help your analysis.

Q7: How can I check the allotment status of the NSDL IPO?
The allotment status is expected to be finalised by 4 August 2025. You can check your allotment status on the registrar's website, which is MUFG Intime India Private Limited (formerly Link Intime), or on the BSE website once it is announced.

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