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NSDL IPO

  • Status: Closed
  • RHP:
  • ₹ 13,680 / 18 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    06 Aug 2025

  • Listing Price

    ₹880.00

  • Listing Change

    10.00%

  • Last Traded Price

    ₹1,065.45

NSDL IPO Details

  • Open Date

    30 Jul 2025

  • Close Date

    01 Aug 2025

  • Listing Date

    06 Aug 2025

  • IPO Price Range

    ₹ 760 to ₹800

  • IPO Size

    ₹ 4,011.60 Cr

  • Listing Exchange

    BSE NSE

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Timeline Financials SWOT FAQ Contacts

NSDL IPO Timeline

NSDL IPO Subscription Status

Last Updated: 08 August 2025 10:32 AM by 5paisa

National Securities Depository Limited (NSDL), a SEBI-registered Market Infrastructure Institution, is set to launch its IPO. It serves as a securities depository in India, handling dematerialisation, trade settlements, pledging, corporate actions, and e-voting. Through subsidiaries NDML and NPBL, it provides e-governance, KYC, insurance repository, and digital banking services. As of 31 March 2025, NSDL manages 39.45 million demat accounts, 294 participants, and 33,758 issuers across 186 countries.

Established in: 2012
Managing Director: Mr. Vijay Chandok

Peer Comparison:

Metric NSDL CDSL
P/E Ratio 46.6 66.1
FY25 Revenue 1535.19 1082
FY25 PAT 343.12 526

 

NSDL Objectives

Since this is an offer for sale, the company itself will not receive any proceeds from the issue. Instead, all the funds raised will go to the selling shareholders, in proportion to the number of shares each one offloads. As per the RHP, the selling shareholders in the NSDL IPO include IDBI Bank, NSE, Union Bank of India, SBI, HDFC Bank, and the Administrator of SUUTI (Specified Undertaking of the Unit Trust of India).

NSDL IPO Size

Types Size
Total IPO Size ₹4,011.60 Cr.
Offer For Sale ₹4,011.60 Cr.
Fresh Issue -

 

NSDL IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 18 13,680
Retail (Max) 13 234 177,840
S-HNI (Min) 14 252 191,520
S-HNI (Max) 69 1,242 943,920
B-HNI (Min) 70 1,260 957,600

NSDL IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB 103.97 1,00,12,000 1,04,09,16,654 83,273.33
NII (HNI) 34.98 75,09,001 26,26,54,614 21,012.37
bNII (bids above ₹10L) 37.73 50,06,001 18,88,92,540 15,111.40
sNII (bids below ₹10L) 29.47 25,03,000 7,37,62,074 5,900.97
Retail 7.76 1,75,21,001 13,59,55,530 10,876.44
Total** 41.02 3,51,27,002 1,44,08,34,768 1,15,266.78

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

NSDL IPO Anchor Allocation

Anchor 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 3, 2025
Anchor lock-in period end date for remaining shares (90 Days) November 2, 2025

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY24 FY25
Revenue 1,099.81 1,365.71 1,535.19
EBITDA 328.60 381.13 492.94
PAT 234.81 275.45 343.12
Particulars (in Rs. Crores)] FY23 FY24 FY25
Total Assets 2,093.48 2,257.74 2,984.84
Share Capital 40.00 40.00 40.00
Total Borrowings - - -
Particulars (in Rs. Crores FY23 FY24 FY25
Net Cash Generated From / (used in) operating activities 507.94 112.88 557.85
Net Cash Generated From / (used in) investing activities -441.71 -177.56 -502.32
Net Cash Generated From / (used in) financing activities -20.00 -20.00 -16.38
Net Increase (Decrease) In Cash And Cash Equivalents 46.23 -84.68 39.15


Strengths

1. India’s first and leading depository with diversified, tech‑driven businesses.
2. Strong technology innovation culture and robust cybersecurity frameworks
3. Stable, recurring revenues across multiple asset classes and verticals.
4. Experienced leadership team with deep market infrastructure expertise.

Weaknesses

1. Heavy dependence on transaction‑led income tied to market volumes.
2. Reliance on depository participants for customer acquisition and growth.
3. Legacy SEBI observations may affect perception and compliance costs.
4. Complex regulatory exposure through subsidiaries, especially NDML.

Opportunities

1. Growing demat penetration across India and overseas investors.
2. New tech products, e‑governance platforms, and digital payments expansion.
3. Cross‑selling across diversified asset classes and verticals.
4. Monetising data, analytics, and value‑added investor services.

Threats

1. Investor shift away from securities could shrink activity and revenues.
2. Cyberattacks or IT outages could disrupt operations and trust.
3. Intensifying regulation and possible future SEBI actions.
4. Legal proceedings could lead to penalties or reputational damage.

1. NSDL is India’s first and largest depository with strong market dominance and trust.
2. Consistent revenue growth with stable, recurring income from multiple asset classes and services.
3. Key role in India’s growing financial markets, supported by digital and retail investment trends.
4. Profitable, debt-free business with rising profits and strong financial performance over the years.

1. NSDL dominates institutional custody with over ₹495‑500 lakh crore under custody.
2. Total Indian demat accounts reached ~162‑175 million, growing ~4 million monthly.
3. NSDL holds ~86‑89% value market share, while CDSL leads in account count.
4. Key growth drivers: expanding retail/digital adoption, fintech tie‑ups, scalable tech infrastructure.

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FAQs

NSDL (National Securities Depository Ltd.) IPO opens from July 30, 2025 to August 1, 2025.

The size of NSDL (National Securities Depository Ltd.) IPO is ₹4,011.60 Cr.

The price band of NSDL (National Securities Depository Ltd.) IPO is fixed at ₹760 to ₹800 per share. 

To apply for NSDL (National Securities Depository Ltd.) IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the NSDL (National Securities Depository Ltd.)  IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

 

The minimum lot size of NSDL (National Securities Depository Ltd.) IPO is of 1 lot consisting of 18 shares and the investment required is ₹13,680.

The share allotment date of NSDL (National Securities Depository Ltd.) IPO is August 4, 2025

The NSDL (National Securities Depository Ltd.) IPO will likely be listed on August 6, 2025.

ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital
Markets (India) Private Limited, IDBI Capital Markets & Securities Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited are the book running lead managers for NSDL (National Securities Depository Ltd.) IPO.

Since this is an offer for sale, the company will not get any funds from the issue. All proceeds will go to the selling shareholders, based on the number of shares each of them sells.