NSDL IPO Description — Established in 1996, the National Securities Depository is one of the world’s largest depositories. It has built a cutting-edge infrastructure to handle securities predominantly in dematerialized form within the Indian capital market. Despite India’s long-standing capital market history, paper-based trade settlements posed challenges such as bad deliveries and delays in title transfers.
NSDL depository facilitates securities to be held in digital form by investors through accounts known as ‘Demat Accounts’ held through depository participants. This includes securities held in dematerialized form with various asset classes namely equities (listed equity and unlisted equity), preference shares, warrants, funds (mutual funds, REITs, InvITs, and AIFs), debt instruments (corporate debt, commercial paper, certificate of deposit, pass through certificate, security receipts, government securities, sovereign gold bonds, municipal debt, treasury bill) and electronic gold receipts.
As of 31 March 2025, the company had over 33.45 million active demat accounts held with 294 depository participants registered with NSDL, and the account holders were located in more than 99.34% of PIN codes in India and 194 countries across the world. As of 31 March 2025, NSDL had an aggregate of 46,015 issuers registered with it.
Table of Contents
National Securities Depository IPO Details
| NSDL IPO Dates | 30 July – 1 August 2025 |
| NSDL Issue Price | INR 760 – 800 per share Employee Discount – INR 76 per share |
| Fresh issue | NIL |
| Offer For Sale | 5,01,45,001 shares (INR 3,811.02 – 4,011.6 crore) |
| Total IPO size | 5,01,45,001 shares (INR 3,811.02 – 4,011.6 crore) |
| Minimum bid (lot size) | 18 shares (INR 14,400) |
| Face Value | INR 2 per share |
| Retail Allocation | 35% |
| Listing On | BSE |
National Securities Depository Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 1,021.99 | 1,268.24 | 1,420.15 |
| Expenses | 789.94 | 973.79 | 1,084.14 |
| Net income | 234.81 | 275.44 | 343.12 |
| Margin (%) | 22.98 | 21.72 | 24.16 |
NSDL Offer News
- National Securities Depository RHP
- National Securities Depository DRHP
- NSDL Or CDSL: Which Offers True Value?
- CDSL vs NSDL – Decoding India’s Two Depositories
- NSDL Unlisted Share Price
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Subscription Status
NSDL Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre Issue) | FY 2025 (Post-Issue) | |
| EPS | 11.74 | 13.77 | 17.16 | 17.16 |
| PE Ratio | – | – | 44.29 – 46.62 | 44.29 – 46.62 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 16.43 | 16.36 | 17.11 |
| NAV | 71.44 | 84.20 | 100.27 |
| ROCE (%) | 21.8 | 21.3 | 22.7 |
| EBITDA (%) | 32.15 | 30.05 | 34.71 |
| Debt/Equity | NA | NA | NA |
NSDL IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 5 August 2025 | 125 | – | 1,600 |
| 4 August 2025 | 121 | – | 1,500 |
| 2 August 2025 | 128 | – | 1,600 |
| 1 August 2025 | 133 | – | 1,700 |
| 31 July 2025 | 133 | – | 1,700 |
| 30 July 2025 | 128 | – | 1,600 |
| 29 July 2025 | 135 | – | 1,700 |
| 28 July 2025 | 135 | – | 1,700 |
| 26 July 2025 | 150 | – | 1,800 |
| 25 July 2025 | 160 | – | 2,000 |
| 24 July 2025 | 160 | – | 2,000 |
| 23 July 2025 | 160 | – | 2,000 |
| 22 July 2025 | 150 | – | 2,100 |
| 19 July 2025 | 170 | – | 2,500 |
| 18 July 2025 | 30 | – | 700 |
NSDL IPO Shareholders
| Shareholder | Number of Equity Shares | Share Holding (%) |
| IDBI Bank | 5,22,00,000 | 26.10 |
| NSE | 4,80,00,000 | 24.00 |
| HDFC Bank | 1,59,09,500 | 7.95 |
| Administrator of the Specified Undertaking of the Unit Trust of India | 1,36,60,000 | 6.83 |
| Deutsche Bank A.G. | 1,00,00,000 | 5.00 |
| State Bank of India | 1,00,00,000 | 5.00 |
| Citibank N.A. | 62,50,000 | 3.13 |
| The Hong Kong and Shanghai Banking Corporation | 62,50,000 | 3.13 |
| Union Bank of India | 56,25,000 | 2.81 |
| Canara Bank | 45,90,000 | 2.30 |
NSDL IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Emp | Total |
|---|---|---|---|---|---|
| Shares Offered | 1,00,12,000 | 75,09,001 | 1,75,21,001 | 85,000 | 3,51,27,002 |
| 1 Aug 2025 | 103.97 | 34.98 | 7.73 | 15.42 | 41.00 |
| 31 Jul 2025 | 1.96 | 11.08 | 4.17 | 7.69 | 5.03 |
| 30 Jul 2025 | 0.84 | 2.83 | 1.87 | 3.68 | 1.78 |
1,50,17,999 shares allotted to anchor investors are not included in these calculations.
NSDL IPO – Comparison With Listed Peer
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| NSDL | 44.29 – 46.62 | 17.16 | 17.11 | 100.27 | 1,535.19 |
| CDSL | 68.04 | 25.20 | 29.90 | 84.23 | 1,199.28 |
NSDL IPO Allotment Status
NSDL IPO allotment status is now available on MUFG Intime’s website. Click on the MUFG Intime IPO weblink to get allotment status.
NSDL IPO Dates & Listing Performance
| IPO Opening Date | 30 July 2025 |
| IPO Closing Date | 1 August 2025 |
| Finalization of Basis of Allotment | 4 August 2025 |
| Initiation of refunds | 5 August 2025 |
| Transfer of shares to demat accounts | 5 August 2025 |
| NSDL IPO Listing Date | 6 August 2025 |
| Opening Price on BSE | INR 880 per share (up 10%) |
| Closing Price on BSE | INR 936 per share (up 17%) |
NSDL IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi – Subscribe
Antique Stock Broking –
Arihant Capital –
Ajconglobal – Subscribe
Axis Capital – Not rated
BP Wealth – Subscribe
Canara Bank Securities – Subscribe
Choice Broking – Subscribe for long term
Dalal & Broacha –
Elite Wealth – Apply
GCL Broking –
Geojit –
GEPL Capital – Subscribe
Hem Securities – Subscribe
ICICIdirect –
Jainam Broking – Subscribe for long term
KR Choksey –
Mehta Equities – Subscribe for long term
Marwadi Financial – Subscribe
Motilal Oswal –
Nirmal Bang – Subscribe for long term
SBI Securities – Not rated
Religare Broking –
Samco Securities – Subscribe for long term
SMC Global – 2/5
Swastika Investmart –
Ventura Securities – Subscribe
National Securities Depository Offer Lead Manager
ICICI SECURITIES LIMITED
ICICI Venture House, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025 Maharashtra, India
Phone: +91 22 6807 7100
Email: [email protected]
Website: www.icicisecurities.com
National Securities Depository Offer Registrar
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.in.mpms.mufg.com
NSDL Contact Details
NATIONAL SECURITIES DEPOSITORY LIMITED
Trade World, ‘A’ Wing, 4th Floor,
Kamala Mills Compound, Senapati Bapat Marg,
Lower Parel (West), Mumbai- 400 013, Maharashtra
Phone: +91 22 2499 4200
Email: [email protected]
Website: www.nsdl.co.in
National Securities Depository IPO FAQs
How many shares in the NSDL IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply in the NSDL Public Offer?
The best way to apply in the NSDL public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is NSDL IPO GMP today?
NSDL IPO GMP today is INR 125 per share.
What is the NSDL kostak rate today?
NSDL kostak rate today is INR NA per application.
What is the National Securities Depository Subject to Sauda rate today?
National Securities Depository Subject to Sauda rate today is INR 1,600 per application.
THANKS FOR THE INFORMATION ~
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Good information…thanks
Information about NSDL IPO is excellent
Good app for guidelines regarding share market & IPO
if i have sbi and hdfc share, can i apply in shareholder quota?