NSDL IPO Last Day: Issue Subscribed 5.50x So Far; Should You Apply? Check GMP, Other Details

Last Updated:August 01, 2025, 10:20 IST

NSDL IPO GMP Today: Its grey market premium currently stands at 16.75%, indicating decent listing gains for investors.

NSDL IPO GMP Today: The initial public offering of National Securities Depository Ltd (NSDL) is going to be closed today, Friday, August 1. The mainboard issue of Rs 4,011.16 crore is purely offer-on-sale (OFS). The company has fixed a price band in the range of Rs 760 to Rs 800 per share. Till 10:09 am on the final day of bidding on Friday, the issue received a 5.50 times subscription, garnering bids for 19,31,49,000 shares as against the 3,51,27,002 shares on offer.

The retail and NII participation stood at 4.47x and 12.58x, respectively. The QIB category has received a 1.97x subscription.

The IPO’s grey market premium currently stands at 16.75%, indicating decent listing gains for investors.

NSDL will be India’s second publicly traded depository after Central Depository Services (CDSL), which was listed on the NSE in 2017.

NSDL IPO Allotment And Listing Date

The IPO will remain open for public subscription between July 30 and August 1. Its basis of allotment will be finalised on August 4, while its listing is scheduled to take place on August 6, 2025.

NSDL IPO Price & Lot Size

The price band of the mainboard IPO, which plans to raise Rs 4,011.60 crore, has been fixed in the range of Rs 760 to Rs 800 apiece.

For investors, the minimum lot size for the IPO is 18. It means investors will have to apply for a minimum of 18 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 13,680 to apply for the IPO.

NSDL IPO GMP Today

According to market observers, unlisted shares of NSDL are currently trading at Rs 935 against the upper IPO price of Rs 800. It means a grey market premium or GMP of Rs 135, which is 16.88% over its issue price.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

NSDL IPO Quota

NSDL said half of the IPO has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional.

NSDL IPO: More Info

The IPO only consists of an offer for sale (OFS) component of 5.01 crore shares and those selling shares under this are — the National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India and the Adminstrator of Specified Undertaking of the Unit Trust of India (SUUTI). Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO.

The listing of NSDL is crucial in order to comply with Sebi’s ownership norms. These regulations require that no entity can hold more than 15 per cent of the shareholding in a depository company.

NSDL’s principal shareholders, IDBI Bank and the NSE, are required to reduce their stake in the company to comply with Sebi’s rule. Currently, IDBI holds 26.10 per cent and NSE owns 24 per cent stake in NSDL, which exceeds the permissible limit.

NSDL IPO: Should You Invest?

Angel One, in its note, advised investors with a long-term perspective to subscribe to the NSDL IPO. The brokerage firm expects robust growth in India’s securities depository sector, driven by deepening capital markets, advancing financial inclusion, and supportive policy reforms.

However, it also flagged certain risks, including regulatory pressure on transaction pricing, stiff competition from CDSL in the retail segment, and the company’s revenue dependence on overall market activity.

Brokerage firm Anand Rathi has given a “Subscribe” recommendation on the NSDL IPO, considering the issue fairly priced. At the upper end of the price band, the IPO values NSDL at 46.6 times its estimated FY25 earnings and implies a market capitalisation of around Rs 16,000 crore.

Mohammad Haris

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More

Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More

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