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NSDL IPO opens for public, fully subscribed on day 1; issue closes August 1
NSDL IPO, priced at ₹760–800, was fully subscribed on Day 1. It aims to raise ₹4,011 crore, after already securing ₹1,200 crore from anchor investors.
The Initial Public Offering (IPO) of National Securities Depository Limited (NSDL) opened for subscription on Wednesday, July 30, and was fully subscribed within hours. According to Reuters, bids were received for 36 million shares against 35.1 million shares on offer.
NSDL manages the electronic holding, trading and settlement of most securities in the Indian capital market. It was set up in August 1996 after the Depositories Act was passed. This is the first time the company is offering its shares to the public.
IPO aims to raise ₹4,011 crore
The IPO aims to raise ₹4,011 crore. It is a complete offer for sale, meaning no new shares are being issued. A total of 5.01 crore shares are being sold by existing shareholders.
The price band is fixed at ₹760 to ₹800 per share. Each share has a face value of ₹2, according to HDFC Sky report. The minimum application for retail investors is 18 shares or ₹13,680. Small non-institutional investors must apply for at least 252 shares worth ₹2,01,600, while the minimum for larger investors is 1,260 shares worth ₹10,08,000. Up to 85,000 shares have been reserved for employees at a discount of ₹76 per share.
Also Read: SEBI to revisit verdict on NSDL role in IPO scam
NSDL raised ₹1,200 crore in its anchor round
Ahead of the launch, NSDL raised ₹1,200 crore in its anchor round. As reported by Reuters, investors included the Life Insurance Corporation of India and US-based Capital International. These shares were allotted at the upper end of the price band.
On Day 1, the retail investor quota was subscribed 1.16 times. Non-institutional investors bid for 1.09 times their share. Qualified institutional buyers had subscribed to 72 percent of their portion, according to reports.
Analysts estimate the IPO is priced at 47 times expected earnings for the current financial year.
Angel One said, “Given its strong market position, high entry barriers, and long-term growth tailwinds from India’s digital and capital market expansion, we assign a ‘subscribe’ rating for long-term investors.”
The offer will remain open till August 1.
