LIVE: NSDL IPO Rs 4,011 crore issue fully subscribed on Day 1 – What’s fueling the frenzy?

Go to Live Updates NSDL IPO GMP, Price Band Live Updates: India’s largest depository, NSDL, is opening its doors to the public markets today, and investors are watching closely. India’s oldest and largest depository, the Rs 4,011 crore IPO is one of the most anticipated listings this year. Here are five important things to know before you consider placing a bid. It is a pure offer for sale (OFS) This mainboard issue consists entirely of an Offer For Sale of 5.01 crore shares by existing shareholders. Some of the shareholders include IDBI Bank, SBI, NSE, HDFC Bank, and Union Bank. That means NSDL won’t receive any funds. The issue is purely to comply with SEBI’s ownership norms and allow early investors to partially exit. Price band and lot size Now coming to the price band of the issue, it is kept between the range of Rs 760 to Rs 800 per share. Investors can bid for a minimum of 18 shares (Rs 14,400 at upper band), and in multiples thereafter. The issue will close on August 1. After the bidding and allotment process, the IPO listing expected on August 6. LIC, ADIA among anchor investors Prior to the opening of the issue, NSDL raised Rs 1,201 crore from anchor investors, including LIC, ADIA, SBI MF, and Fidelity Funds. It is also interesting to note that LIC alone picked up nearly Rs 144 crore worth of shares. Big numbers, Big reach NSDL manages Rs 510 lakh crore in assets. It serves 4 crore demat accounts, and operates through nearly 66,000 service centres. Moreover, it is also the first and largest depository in India. Financials Looking at the financial performance of the company, in FY25, NSDL reported a 24.6% jump in net profit to Rs 343 crore and maintained a 32% EBITDA margin. Live Updates NSDL IPO GMP, Price Band, Subscription Status Live Updates: Here's everything you need to know 16:10 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Business overview Established in 1996, NSDL was the first depository to introduce electronic holding and settlement of securities in India. It currently manages over 4 crore demat accounts and handles assets worth more than Rs 510 lakh crore. The company operates through a nationwide network of more than 66,000 service centres. 15:11 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Market opportunity for NSDL According to a CRISIL report, the capital markets have played a pivotal role in development of the Indian economy with the amount of total capital raised (equity and debt) increasing from Rs 91,950 crore in Financial Year 2019 to Rs 21,8120 crore in Financial Year 2025. 14:47 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Purpose of the IPO The key objective of the issue is to facilitate the listing of NSDL shares on a stock exchange and ensure regulatory compliance. SEBI mandates a minimum public shareholding in market infrastructure institutions, which this IPO aims to meet. There is no plan to use the IPO proceeds for funding growth or operations. 13:54 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Geojit Investments on NSDL "At the upper price band of Rs 800, NSDL’s FY25 P/E ratio of 47x appears reasonably priced compared to its peer. Considering its dominant share in AUC, rapid growth in financials, stable revenue stream, healthy return ratios and focus on digital infrastructure expansions ahead, we assign a ‘Subscribe’ rating with a long-term investment perspective," said Geojit Investments in an IPO note. 13:33 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Issue fully subscribed The Rs 4,011 crore IPO of NSDL fully subscribed within just three hours of opening for bidding. Retail investors, non-institutional buyers, and NSDL employees led the initial rush, filling up their respective quotas early in the day. Meanwhile, the institutional investor segment was off to a steady start, with around 50% of its portion subscribed by the afternoon. 13:24 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Subscription status The IPO of NSDL opened for subscription today. As of now, the issue was subscribed 0.43 times overall. The retail portion attracted the most attention, getting subscribed 0.54 times, followed by the Non-Institutional Investor (NII) category at 0.72 times. However, the Qualified Institutional Buyers (QIB) segment saw minimal interest, with a subscription of just 0.01 times. 12:57 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Core business of NSDL NSDL operates a centralised digital book-keeping system that facilitates the holders of securities to hold and transfer their securities in electronic form and enables settlement solutions in an efficient and cost-effective manner. It also facilitates and maintains complete records of the ownership of securities held in dematerialised form with it on behalf of the issuer entity. 12:22 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Total active demat accounts with NSDL The number of active demat accounts with NSDL has grown at a 13.5% CAGR over FY19-25 to reach 39.5 million. Notably, despite a lower number of active accounts, NSDL commands an impressive 66% market share in settlement value, with total assets in its custody amounting to Rs 464 lakh crore. 12:20 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Financial performance In FY25, NSDL reported a 12% rise in revenue, reaching Rs 1,420 crore, while net profit grew by 24.5% to Rs 343 crore. The company has maintained an EBITDA margin of around 32–34%, and its average return on net worth (RoNW) stands at about 16.75% over the last three years. 11:52 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Bajaj Broking on NSDL IPO "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. On the financial performance front, for the last three fiscals, the company has (on a consolidated basis) posted a total income/net profit, of Rs 1099.81 cr/ Rs 234.81 cr(FY23), Rs 1365.71 cr/ Rs 275.45 cr (FY24), Rs 1535.19 cr/ Rs 343.12 cr (FY25). For the last three fiscals, the company has posted an average EPS of Rs 15.13 and an average RoNW of 16.75%. If we attribute FY25 annualized earnings then the asking price is at a P/E of 46.62. Based on FY24 earnings, the P/E stands at 58.10," said the brokerage firm Bajaj Broking in its report. 11:30 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Shareholders offloading stake Major stakeholders participating in the OFS include IDBI Bank, State Bank of India, National Stock Exchange, HDFC Bank, Union Bank of India, and the Administrator of Unit Trust of India. These divestments align with SEBI’s shareholding norms for market infrastructure institutions. 11:14 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: NSDL's net profit and revenue growth NSDL's revenue and net profit grew consistently at 17.9% and 20.9% CAGR over FY23-25, led by a continuous increase in the number of active demat accounts and higher trading activity across its accounts, along with diversification into other ancillary investor services. 11:04 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Deven Choksey on NSDL IPO "Its revenue and net profit grew consistently at 17.9% and 20.9% CAGR over FY23-25, led by continous increase in number of active demat accounts and higher trading activity across its account, along with diversification into other ancillary investor services," said Deven Choksey Research in its IPO note. "We find value in the NSDL’s initial issue, which is priced at 46.6x TTM P/E, compared to listed peer valuation of 64.1x TTM P/E, as we believe the Company will perform better over the upcoming 3-5 years, driven by its higher focus on driving growth in retail demat accounts, through expanding relations with discount and new-age depository participants across underserved regions," added the brokerage firm. "We assign a “SUBSCRIBE” rating to its initial issue," it added. 10:58 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Offer size and structure This IPO will raise Rs 4,011.6 crore entirely through an Offer for Sale (OFS) of 5.01 crore shares. Since no fresh shares are being issued, NSDL will not receive any funds from the IPO. Instead, the proceeds will go to existing shareholders who are partially exiting. 10:52 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Price band and minimum investment The IPO has a price band set between Rs 760 and Rs 800 per share. For retail investors, the minimum lot size is 18 shares, translating to an initial investment of Rs 14,400 at the upper end of the band. Bids can only be placed in multiples of 18 shares. 10:51 (IST) 30 Jul 2025 NSDL IPO GMP Live Updates: Subscription window and listing timeline India’s first and largest securities depository, National Securities Depository Limited (NSDL), has opened its initial public offering (IPO) for subscription today, July 30 and will remain available for bidding until August 1. The issue is among the most awaited this year. Investors can expect the basis of allotment to be finalised by August 4, while the shares are likely to be listed on the BSE on August 6.

LIVE: NSDL IPO Rs 4,011 crore issue fully subscribed on Day 1 – What’s fueling the frenzy?

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