NSDL Share Price Surges Nearly 10% As Post-Listing Rally Continues

Shares of National Securities Depository Ltd. rose nearly 10% on Monday, continuing their post-listing rally for the fourth consecutive session. The stock made a stellar debut on the Street at a 10% premium over its issue price on Aug.6. The IPO price was Rs 800 and the scrip listed at Rs 880.

By Friday, the stock was up 66% over its IPO price. The stock gained as much as 19% intraday to Rs 1,339 on Friday.

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 fetched selling shareholders Rs 4,012 crore.

The IPO raised Rs 1,201.44 crore from anchor investors, including Life Insurance Corporation of India, Capital Group and Fidelity.

Shares of NSDL rose as much as 9.59% to Rs 1,425 apiece. They pared gains to trade 8.21% higher at Rs 1,407.05 apiece, as of 10:30 a.m. This compares to a 0.36% advance in the BSE Sensex.