Final hours! NSDL IPO closes today: Check latest subscription status, GMP

Among the investor categories, non-institutional investors (NIIs) led the demand for the NSDL IPO, with the portion reserved for them subscribed by 22.95 times

NSDL IPO Day 3 update, subscription status:  The three-day subscription window to bid for the initial public offering (IPO) of National Securities Depository Limited (NSDL) is set to conclude today. The public issue, which opened for subscription on July 30, has received strong demand from investors, getting oversubscribed by more than 9 times.

 

According to NSE data, the NSDL IPO received bids for 31,68,92,970 shares against 3,51,27,002 shares on offer as of 12:35 PM on August 1. This translates to an oversubscription of 9.02 times.

 

Among the investor categories, non-institutional investors (NIIs) led the demand, with the portion reserved for them subscribed by 22.95 times. This was followed by retail investors, who oversubscribed their portion by 5.98 times. Participation from qualified institutional buyers (QIBs) was the lowest but still oversubscribed at 3.87 times.   

NSDL IPO grey market premium (GMP) today

Favourable sentiment for the public offering was also reflected in the grey market, where the unlisted shares of the company were commanding a solid premium on the final day of subscription. Sources tracking grey market activity revealed that the company’s unlisted shares were exchanging hands at ₹934 per share, reflecting a grey market premium (GMP) of ₹134 — nearly 16.75 per cent above the upper end of the issue price of ₹800.

NSDL IPO review

The depository has received favourable reviews from brokerages for its public offering. Market analysts have broadly shared positive views on the issue, citing its fair valuation compared to its only listed rival, Central Depository Services (India) Limited (CDSL). Analysts believe NSDL is well-positioned for long-term growth. READ MORE

NSDL IPO details

The NSDL IPO comprises entirely an Offer for Sale (OFS) of 50.14 million equity shares, worth ₹4,011.60 crore. The public offering is available at a price band of ₹760 to ₹800 per share, with a lot size of 18 shares.

 

Investors willing to invest in the NSDL IPO can bid for a minimum of 18 shares and in multiples thereof. A retail investor would require a minimum of ₹14,400 to bid for one lot (18 shares) and ₹1,87,200 to bid for the maximum of 13 lots (234 shares).

 

As the public issue is an Offer for Sale, NSDL will not receive any proceeds from it. The funds raised through the offering will go to the existing shareholders, who are divesting part of their stakes. 

NSDL IPO allotment date, listing date

As the public issue closes for subscription today, the basis of allotment of NSDL IPO shares is likely to be finalised on Monday, August 4. Successful allottees will receive the company’s shares in their demat accounts by August 5.

 

Shares of NSDL are slated to make their stock market debut on August 6, with listings on both the BSE and NSE. 

About National Securities Depository (NSDL)

National Securities Depository (NSDL) is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value, settlement volume, and value of assets held under custody as of the end of March 2025. As of March 31, 2025, NSDL manages 39.45 million demat accounts across 99 per cent of PIN codes and in 186 countries.