NSDL IPO to open for subscription on July 30; know price band
India’s largest depository NSDL has fixed a price band of Rs 760 to Rs 800 per share for its IPO. Its shares are currently trading at Rs 1,025 in the unlisted market.
NSDL’s IPO will open on July 30, 2025 and close on August 1, 2025. IPO bidding for anchor investors will start a day earlier i.e. on July 29.
- Minimum lot: 18 shares, for which Rs 14,400 (Rs 800 x 18) is required.
- Retail investors: Can apply for a maximum of 13 lots (234 shares).
- For employees: 85,000 shares reserved, who will get a discount of Rs 76 per share.
Existing shareholders will sell 5.01 crore shares
This IPO is completely an offer for sale, that is, the company is not issuing new shares. Existing shareholders will sell 5.01 crore shares, raising about ₹4,011 crore.
Who is selling shares?
Many big names are selling their shares in this IPO. These include:
- IDBI Bank: Will sell 2.22 crore shares.
- National Stock Exchange: Will sell 1.80 crore shares.
- Union Bank of India: Will sell 5 lakh shares.
- Apart from this, State Bank of India (SBI), HDFC Bank and SUUTI (Specified Undertaking of Unit Trust of India) are also selling their shares.
Share price 22% lower than unlisted market
NSDL has kept the share price at Rs 760-800, which is 22% lower than the current price of ₹1,025 in the unlisted market. Its shares were earlier at a peak of ₹1,275 in the unlisted market.
This has been seen before as well. Companies like Tata Technology, HDB Financial Services and PB Fintech also priced their IPOs lower than the unlisted market. The advantage of this is that the stock can see a good jump at the time of listing.
Financial health of the company?
In the financial year 2024-25 (FY25), the company’s:
- Net profit: Rs 343.12 crore, which is 24.57% more than last year’s 275.45 crores.
- Revenue: Rs 1,535.19 crore, which is 12.41% more than FY24’s 1,365.71 crores.
- Market cap: At the upper price of Rs 800, the market cap will be around Rs 16,000 crore.
The company’s price-to-earnings (P/E) ratio is 46.62, which is lower than the 66.63 P/E of its competitor Central Depository Services Limited (CDSL).
