National Securities Depository Limited (NSDL), India’s largest and oldest depository, opened its much-anticipated Initial Public Offering (IPO) on July 30, 2025, with a closing date of August 1, 2025. The IPO has been launched as a pure Offer for Sale (OFS) aiming to raise approximately ₹4,011–₹4,012 crore. With a price band of ₹760 to ₹800 per share, the issue has attracted significant attention from both retail and institutional investors.
As of Day 1, the IPO was fully subscribed within hours, signaling strong investor confidence in NSDL’s long-standing position in India’s financial infrastructure ecosystem.
NSDL IPO Issue Size, Price Band & Company Profile
The NSDL IPO is one of the most talked-about issues of 2025 due to the company’s vital role in India’s capital markets. The offer consists of a total OFS where existing shareholders are offloading their stake, with no fresh issue of shares.
- Price Band: ₹760 – ₹800 per share
- Total Issue Size: Around ₹4,011–₹4,012 crore
- IPO Dates: Opens July 30, closes August 1
NSDL is a market leader with an estimated 86% market share in India’s demat account ecosystem, catering to millions of investors. Analysts see this IPO as fairly priced, valuing the company at approximately 47 times its FY25 projected earnings. Many analysts and market experts have recommended long-term holding due to NSDL’s monopoly-like position and steady financial growth.
Subscription Status and Grey Market Premium (GMP)
On Day 1 (July 30), the IPO was oversubscribed 1.78 times overall, with especially high interest from Non-Institutional Investors (NIIs) and Employees:
- Retail Investors: 1.86×
- NIIs: 2.83×
- Qualified Institutional Buyers (QIBs): 0.84×
- Employees: 3.68×
This strong response was supported by positive sentiment in the grey market. As of July 31, the Grey Market Premium (GMP) was hovering between ₹134–₹140, translating to a 16–17% premium over the issue’s upper price band of ₹800. This suggests an estimated listing price near ₹926 per share.
Earlier, on July 19, the GMP had reached a peak of ₹167, though it has since settled slightly, indicating a cooling off in demand but still robust enthusiasm.
Allotment Timeline and How to Check Status
The allotment and listing timeline for the NSDL IPO is clearly laid out, offering investors a transparent view of the process:
- Allotment Finalization: August 4, 2025
- Refunds Initiated: August 5, 2025
- Shares Credited to Demat Accounts: August 5, 2025
- Listing Date: August 6, 2025
Once allotment is finalized, here’s how you can check your status:
Registrar Websites:
Visit MUFG Intime, KFin Technologies, or other registrar portals. Enter your PAN, application number, or DP client ID to check status.
NSE/BSE IPO Status Pages:
Use official exchange websites to verify bid and allotment details. Data is generally available T+1 day after closing and remains accessible for 10 days.
Demat Account Portal:
Most broker platforms (like Zerodha, Groww, Upstox, etc.) offer real-time updates on IPO application and allotment status under their IPO section.
Conclusion
Investor and analyst sentiment remains largely positive for the NSDL IPO. Given its dominant position, solid track record, and favorable valuation, many view this IPO as a long-term investment opportunity. Even though there’s no fresh capital infusion (as this is a complete OFS), the strong Day 1 subscription and healthy GMP indicate strong backing from both retail and institutional investors.
F.A.Q.
– What is the price band of the NSDL IPO?
The NSDL IPO has a price band of ₹760 to ₹800 per share. The issue is entirely an Offer for Sale (OFS), aiming to raise around ₹4,011–₹4,012 crore.
– When will the NSDL IPO allotment be finalized?
The basis of allotment will be finalized on August 4, 2025. Refunds will be processed and shares credited to demat accounts on August 5.
– What is the expected listing date for NSDL shares?
NSDL shares are expected to be listed on stock exchanges on August 6, 2025.
– What is the current Grey Market Premium (GMP) for NSDL IPO?
As of July 31, 2025, the GMP for NSDL IPO is ranging between ₹134–₹140, indicating a likely listing price of around ₹926, which is a 16–17% premium over the issue price.
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