The initial public offering of National Securities Depository Ltd. will open for subscription on July 30, 2025, for which the depository has fixed the price band in the range of Rs 760 to Rs 800 per equity share of the face value of Rs 2. NSDL filed its red herring prospectus (RHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to launch its IPO via pure offer-for-sale route.
The national depository will open for its primary offering on July 30, 2025 and the bidding for the issue shall close on Aug. 01. NSDL shares will be listed at the bourses on BSE and NSE on Aug. 6, 2025. The bidding for anchor investors will take place on July 29.
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NSDL IPO Details
NSDL IPO is entirely an offer for sale (OFS) of up to 5.01 crore equity shares by existing shareholders, including IDBI Bank, the National Stock Exchange of India (NSE), and the State Bank of India (SBI).
IDBI Bank will sell up to 2.22 crore shares, SBI will sell up to 40 lakh shares, NSE will offload up to 1.80 crore shares, and HDFC Bank will sell up to 20 lakh shares. Currently, IDBI Bank and NSE hold 26.01% and 24% stake, respectively, in NSDL. HDFC Bank holds a 7.95% stake, Deutsche Bank and SBI hold a 5% stake.
ICICI Securities, HDFC Securities and Capital Markets, IDBI Capital Markets & Securities, Axis Capital, SBI Capital Markets and Motilal Oswal Investment Advisors are the issue's book-running lead managers, while MUFG Intime India serves as the registrar.
NSDL Financials
NSDL is the largest depository in India in terms of number of issuers, active instruments, market share in demat value of settlement volume and value of assets held under custody. Established in 1996, NSDL is acting as custodian to over 51.1 trillion rupees in securities for over 40 million investor accounts.
NSDL maintains electronic records of allotment and ownership transfer of securities. It posted a total income of Rs 731.40 crore in FY25, a jump of 28% over previous year. The depository's net profit rose 24.6% to Rs 321.60 crore during the same period. The depository's assumed market cap is between Rs 18,000- 20,500 crore.
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