The NSDL IPO is a book-built issue consisting entirely of an offer-for-sale (OFS) of 5.01 crore equity shares. Key shareholders like IDBI Bank, NSE, and SBI will sell their stakes to comply with SEBI listing norms. No fresh shares will be issued, meaning the company wonβt raise new capital. The face value of each share is βΉ2, and more details will be announced in the final red herring prospectus.
The NSDL IPO is expected to open around July 21, 2025, and close by July 25, 2025. Allotment is likely around July 28, and the listing may take place on July 30 on both NSE and BSE. While the IPO dates are unofficial for now, sources indicate these timelines. The price band and lot size are not yet disclosed and will be declared closer to the IPO launch.
The NSDL IPO is significant as NSDL is one of Indiaβs top depositories, managing over βΉ398 lakh crore worth of demat assets. With a solid track record and growing digital services, the company is seen as a stable and established player. Investors will closely monitor its valuation compared to peer CDSL, along with grey market trends and listing expectations.
NSDL IPO Details
| Genera | Details |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | βΉ2 per share |
| Issue Price Band | [.] to [.] per share |
| Lot Size | |
| Sale Type | Offer For Sale |
| Total Issue Size | 5,01,45,001 shares (aggregating up to βΉ[.] Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 20,00,00,000 shares |
| Share Holding Post Issue | 20,00,00,000 shares |
NSDL IPO Timeline
NSDL IPO opens on , and closes on Date.
| IPO Timeline | Dates |
|---|---|
| IPO Open Date | |
| IPO Close Date | |
| Cut-off time for UPI mandate confirmation | 5 PM on |
NSDL IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
Investor Category Reservations
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII | Employee limit: (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)If applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for Employee and RII/NII |
About National Securities Depository Limited (NSDL)
National Securities Depository Limited (NSDL) was founded in August 1996 as Indiaβs first depository institution. It was promoted by IDBI, UTI, and NSE to eliminate the risks of paper-based securities and introduce dematerialization in Indiaβs capital markets. With the launch of electronic demat accounts, NSDL helped transform how Indian investors hold and trade shares laying the foundation for the upcoming NSDL IPO.
NSDL operates as a central securities depository, regulated by SEBI. It holds a wide range of securities including shares, bonds, debentures, and mutual funds in electronic format. Its core functions include demat account services, trade settlement, corporate action processing, and digital e-voting. NSDL also supports KYC, PAN, and Aadhaar-based verification services. These essential functions make the NSDL IPO highly relevant for investors interested in Indiaβs financial infrastructure.
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As of March 2023, NSDL manages over 3.2 crore demat accounts and holds securities worth more than βΉ398 lakh crore. It works with over 280+ depository participants and covers 99% of Indiaβs dematerialized securities by value. The company ensures fast, secure, and transparent settlement for trades on NSE and BSE. The scale of these operations highlights the importance of the NSDL IPO in Indiaβs digital investment ecosystem.
The NSDL IPO is being launched to comply with SEBIβs mandate for depository firms to list on stock exchanges and reduce promoter holding below 15%. This offer-for-sale will help investors participate in one of Indiaβs most critical financial service providers. With peer CDSL already listed, the NSDL IPO gives retail investors an opportunity to evaluate both companies and invest in long-term depository growth.
What Does NSDL Do?
- NSDL plays a central role in the Indian financial system. It acts as a central securities depository, holding securities like shares, bonds, ETFs, and debentures in electronic form for millions of investors. It facilitates:
- Demat account services (similar to bank accounts for securities)
- Settlement of trades on stock exchanges
- Corporate actions like dividends, bonuses, and rights issues
- Pledge/hypothecation of securities
- E-voting and e-signature infrastructure
- PAN card and KYC authentication support
- NSDL e-Governance services (which later became a separate entity)
NSDL Today: Scale and Strength
- As of March 2023, NSDL holds:
- Over 3.2 crore+ active demat accounts
- More than βΉ398 lakh crore in securities value
- Ties with more than 280+ depository participants (DPs)
- Coverage of 99% of the total value of dematerialised securities in India
- Settlement support for both NSE and BSE transactions
NSDL Key Ownership and Business Evolution
While NSDL was initially promoted by IDBI, NSE, and UTI, its shareholding has since diversified. Major stakeholders currently include:
- IDBI Bank
- NSE Investments
- State Bank of India (SBI)
- HDFC Bank
- Standard Chartered Bank
- Citibank
In recent years, NSDL has focused on digital transformation, providing services like e-sign, Aadhaar-based authentication, and centralized KYC. Its NSDL e-Governance arm was demerged into a separate entity in 2022.
NSDL Final Conclusion
The NSDL IPO is not just another public offering β it marks a key milestone in the evolution of Indiaβs capital markets. As one of the countryβs most trusted financial institutions, NSDL has enabled safe, efficient, and transparent investing for millions. With a solid business model, vast depository network, and deep regulatory foundation, the NSDL IPO offers a rare opportunity for investors to be part of Indiaβs digital financial backbone.
Company Financials
NSDL Financial Information (National Securities Depository Limited)
| Financial Information | Year 2023 | Year 2022 | Year 2021 |
|---|---|---|---|
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,093.48 | 1,692.75 | 1,504.01 |
| Revenue | 1,099.81 | 821.29 | 526.12 |
| Profit After Tax | 234.81 | 212.59 | 188.57 |
| Net Worth | 1,428.86 | 1,211.62 | 1,019.30 |
| Reserves and Surplus | 1,388.86 | 1,171.62 | 979.30 |
| Total Borrowing | 0.00 | 0.00 | 0.00 |
| Amount in βΉ Crore | |||
NSDL Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 16.43% |
| RoNW | 16.43% |
| PAT Margin | 21.35% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.74 | 11.74 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2023 that is available in RHP.
NSDL Contact Details
National Securities Depository Ltd. Contact Details
- National Securities Depository Ltd.
Trade World, βAβ Wing, 4 th Floor,
Kamala Mills Compound, Senapati Bapat Marg
Lower Parel (West),
Mumbai, Maharashtra, 400013 - Phone: +91 22 2499 4200
- Email: cs_nsdl@nsdl.com
- Website: https://nsdl.co.in/
NSDL IPO Registrar
- MUFG Intime India Private Limited (Link Intime)
- Phone: +91-22-4918 6270
- Email: nsdl.ipo@linkintime.co.in
- Website: https://linkintime.co.in/Initial_Offer/public-issues.html
- IPO Opening Date: Expected July 21, 2025
- Closing Date: Expected July 25, 2025
- Allotment Date: Likely July 28, 2025
- Listing Date: Expected July 30, 2025
- Price Band: Not yet announced
- Lot Size: Will be declared in RHP
- Face Value: βΉ2 per share
- Allotment Date: Tentatively July 28, 2025
- Refund Initiation: Within 2 working days of allotment
- Listing Date: Likely July 30, 2025