NSDL IPO subscribed 1.78 times on Day 1; check listing date and other information

NSDL IPO Subscription: The initial public offering (IPO) of National Securities Depository Ltd (NSDL) kicked off to a strong start on Wednesday, July 30, with the issue getting fully subscribed within hours of opening. By the end of Day 1, the Rs 4,011-crore offer had seen 1.78 times overall subscription, driven by solid demand from retail and non-institutional investors (NIIs).

According to NSE data, the IPO received bids for 6.26 crore shares against 3.51 crore shares on offer. The retail portion was subscribed 1.86 times, while the NII category saw 2.83 times subscription. The QIB (Qualified Institutional Buyers) segment, however, was subscribed 84 per cent expected to pick up momentum closer to the final day on August 1.

NSDL IPO details

The IPO comprises entirely an offer for sale (OFS) of 5.01 crore equity shares, with no fresh issue component. Existing shareholders such as National Stock Exchange (NSE), IDBI Bank, SBI, HDFC Bank, Union Bank of India, and SUUTI are divesting part of their stake.

Notably, the IPO is being seen as a step toward compliance with SEBI’s depository ownership norms, which restrict any single entity from holding more than 15 per cent stake in a depository. Currently, IDBI Bank holds 26.1 per cent and NSE owns 24 per cent in NSDL — both above the regulatory limit.

Anchor round success and listing plans

Ahead of the IPO opening, NSDL mobilised Rs 1,201 crore from anchor investors on Tuesday, reflecting strong institutional interest. The IPO price band is set at Rs 760 to Rs 800 per share, and the shares are expected to be listed on the stock exchanges on August 6.

Once listed, NSDL will become the second listed depository in India, after Central Depository Services (India) Ltd (CDSL), which went public in 2017.

What does NSDL do?

Founded in 1996, NSDL is one of India’s premier market infrastructure institutions and pioneered the dematerialisation of securities in the country. It provides a broad suite of services to investors, issuers, brokers, and other market participants.

The company’s IPO is being managed by a consortium of lead book-running managers including ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital Markets, Motilal Oswal Investment Advisors, and SBI Capital Markets.