National Securities Depository Ltd. IPO
NSDL IPO is a book-built issue of ₹4,011.60 crore, consisting entirely of an offer for sale of 5.01 crore equity shares. There is no fresh issue component in the IPO. The subscription window for ...
The basis of allotment is likely to be finalised on August 4, 2025. The equity shares are proposed to be listed on BSE, with a tentative listing date scheduled for August 6, 2025. The price band for the NSDL IPO is fixed between ₹760 and ₹800 per share.
Investors can apply for a minimum of one lot, which consists of 18 equity shares, amounting to an investment of ₹13,680 for retail investors. For sNII (small non-institutional investors), the minimum application size is 14 lots, or 252 shares, totalling ₹2,01,600. For bNII (big non-institutional investors), the minimum is 70 lots, or 1,260 shares, amounting to ₹10,08,000.
ICICI Securities Limited is the book-running lead manager for the IPO. The registrar handling the issue is MUFG Intime India Private Limited (Link Intime). Further details are available in the RHP.
Read moreIPO Timeline
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30 Jul 2025Bidding Starts
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01 Aug 2025Bidding Ends
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04 Aug 2025Allotment Finalization
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05 Aug 2025Refund Date
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05 Aug 2025Demat Date
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06 Aug 2025Listing Date
National Securities Depository Ltd. IPO Financial Result in crore
| Year | Asset | Revenue | Profit |
|---|---|---|---|
| 31 Mar 2023 | 2,093.48 Cr | 1,099.81 Cr | 234.81 Cr |
| 31 Mar 2024 | 2,257.74 Cr | 1,365.71 Cr | 275.45 Cr |
| 31 Mar 2025 | 2,984.84 Cr | 1,535.19 Cr | 343.12 Cr |
About National Securities Depository Ltd. IPO
About National Securities Depository Limited
National Securities Depository Limited (NSDL) is a SEBI-registered market infrastructure institution that plays a vital role in Indi
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The organisation operates a secure and efficient digital platform that allows investors to hold various securities—such as equities, debt instruments, mutual fund units, and government securities—in demat form. These securities are held through demat accounts maintained by depository participants. NSDL supports key services like settlement of trades, off-market transfers, pledges, and corporate actions.
NSDL also provides e-services such as e-voting and consolidated account statements. Through its subsidiaries—NSDL Database Management Limited (NDML) and NSDL Payments Bank Limited (NPBL)—the company offers e-governance, regulatory platforms, KYC solutions, and digital banking services.
As of March 31, 2023, NSDL had over 31.46 million active demat accounts and 40,987 registered issuers. The company's services span more than 99% of India’s pin codes and reach 186 countries globally, showing its strong footprint and reliability in capital market infrastructure.
Strengths
- India’s largest depository, holding 88.39% securities by value.
- Introduced dematerialisation, transforming India’s securities settlement landscape forever.
- First to offer blockchain-based security monitoring for debentures.
- Stable recurring revenue from annual custody and service fees.
- Wide asset coverage including equities, bonds, gold, and funds.
- Experienced leadership team averaging 20+ years in financial services.
Risks
- A shift in investor preference away from securities could reduce revenue.
- Overdependence on depository services limits NSDL’s income diversification.
- Business is vulnerable to external market factors like inflation and GDP.
- Failure to innovate or adopt new tech may impact future growth.
- System glitches or cyberattacks could harm NSDL’s operations and image.
- Intense competition may impact pricing, margins, and client acquisition.
NSDL IPO Objectives
- The IPO is purely an Offer for Sale (OFS) of up to 5.73 crore equity shares by existing shareholders.
- The company aims to list its shares on the BSE to enhance brand visibility and market presence.
- The listing will help create a public market for NSDL’s equity shares in India, enabling better liquidity for shareholders.
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