NSDL IPO lists at 10% premium, as shares of National Securities Depository Ltd debuted at ₹880 on the Bombay Stock Exchange on August 6, 2025—setting a strong tone amid a ₹4,012 crore initial public offering priced at ₹800 per share Reuters
📈 Listing Performance & Market Reaction
- NSDL shares opened at ₹880, representing a 10% premium over the IPO price of ₹800 per share
- The stock climbed further, touching an intraday high of ₹920, marking a 15% gain over the issue price
- In grey market trading before listing, the shares were trading at a premium between ₹135–₹140—indicating potential high listing gains of up to 16.9%
🔍 Subscription & Company Strength
- The IPO was oversubscribed 41× overall, with QIBs subscribing ~104×, NIIs ~35×, and retail ~7.8×
- NSDL holds approx 86% market share in India’s securities depository business and supports 192.4 million demat accounts as of March 2025, fueling investor confidence in its listing
🧭 What It Means for Investors
- Listed at a 10% premium, NSDL delivered modest but solid returns to IPO participants on debut day.
- Analysts highlighted that the listing fell short of grey market expectations but still aligns with projections, noting strong fundamentals and long-term appeal due to NSDL’s dominant industry position
- Brokerages such as Mehta Equities recommend a hold for long-term investors, citing stable revenue visibility and institutional dominance. Non-allottees are advised to wait for post‑listing dips to consider entry
✅ Summary Table
| Metric | Details |
|---|---|
| Issue Price | ₹800 / share |
| Listing Price | ₹880 (+10%) |
| Intraday High | ₹920 (+15%) |
| GMP Pre-listing | ₹135–140 (~17%) |
| Subscription | 41× overall |
| Market Position | ~86% share in depository space |
🔮 Outlook & Next Steps
NSDL’s debut is seen as well-timed, riding high on India’s growing retail investing wave and continues digital infrastructure build‑out. Analysts suggest the current valuation is still lower than peer CDSL, offering room for potential upside in coming sessions. While grey market premiums indicated a larger listing gain, the 10% jump reflects a disciplined but optimistic market response. NSDL’s long-term trajectory remains promising given its institutional moat and dependable cash flows.
