Shares of National Securities Depository Ltd. extended their post-listing rally to a third session, generating a return of 66% over its IPO price. The stock gained as much as 19% intraday at Rs 1,339 on Friday, close to the upper band on the BSE.
The NSDL share price ended 17% higher on Wednesday and 20% on Thursday. The IPO price was Rs 800 and the scrip listed at Rs 880.
The total market capitalisation has surged to Rs 26,600 crore.
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.
All pre-IPO equity shares of NSDL are locked, and no off-market buy or sell transactions are permitted till six months post-listing date, as per regulations.
NSDL has a dominant market share in India's depository market, where it is one of the two players besides CDSL.
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