NSDL IPO Listing: Shares Debut At 10% Premium To Issue Price

National Securities Depository Ltd., made a stellar debut at the Street with a 10% premium over its issue price. On the BSE, the stock started trading at Rs 880 apiece, compared to the issue price of Rs 800 at 10:00 a.m., at a premium of 10%.

The initial pubic offering from India's oldest and largest depository was entirely an offer for sale of up to 5.01 crore equity shares by existing shareholders, including IDBI Bank, the National Stock Exchange of India, and the State Bank of India. The share sale is expected to fetch up to Rs 4,012 crore.

The company raised Rs 1,201.44 crore from anchor investors. Life Insurance Corporation of India, Capital Group and Fidelity were among the prominent investors.

ICICI Securities Ltd., Axis Capital Ltd., HSBC Securities and Capital Markets (India) Pvt., SBI Capital Markets Ltd., IDBI Capital Markets & Securities Ltd. and Motilal Oswal Investment Advisors Ltd. were the book-running lead managers to the issue. The offer, which has concluded on Friday, listed only on the BSE earlier today.

The shares of NSDL was trading at Rs 911 apiece on the BSE. The scrip marked gains of 13% over its issue price and 3.5% over its opening price. The gains on the new counter compares to a 0.27% decline in the benchmark index Sensex as of 10:46 a.m.