India’s oldest and largest depository, National Securities Depository Limited (NSDL), is all set to hit the stock markets, and investors are paying close attention. With a massive ₹4,011 crore IPO, this is one of the most talked-about public issues of the year.
What’s the Deal?
The NSDL IPO is a 100% Offer For Sale (OFS) of 5.01 crore shares. That means no new shares are being issued, and the company itself won’t receive any proceeds. Instead, the existing shareholders—including IDBI Bank, SBI, NSE, HDFC Bank, and Union Bank—are offloading part of their stake. The move is mainly to comply with SEBI’s ownership guidelines and give early investors a chance to exit partially.
IPO Details: Price Band, Lot Size & Dates
- Price band: ₹760 to ₹800 per share
- Minimum lot size: 18 shares (₹14,400 at the upper band)
- IPO opens: July 30
- IPO closes: August 1
- Expected listing date: August 6
Who Can Invest?
- 50% of the IPO is reserved for Qualified Institutional Buyers (QIBs)
- 35% is set aside for retail investors
- 15% goes to Non-Institutional Investors (NIIs)
Anchor Investors Step In Early
Ahead of the IPO opening, NSDL raised ₹1,201 crore from anchor investors, signaling strong demand. Big names like LIC, ADIA, SBI Mutual Fund, and Fidelity Funds came in early. Interestingly, LIC alone picked up shares worth ₹144 crore.
NSDL’s Market Position
- Assets under management: ₹510 lakh crore
- Demat accounts served: 4 crore
- Service centres across India: Nearly 66,000
- India’s first and largest depository
NSDL financial growth:
- Net profit in FY25: ₹343 crore (up 24.6% YoY)
- EBITDA margin: Solid at 32%
Lead Managers to the Issue
The IPO is being managed by a clutch of big investment firms, including ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital, Motilal Oswal, and SBI Capital Markets.
Anuj Prajapati