India’s Oldest Depository Draws Blockbuster Demand
The ₹4,011.60 crore initial public offering (IPO) of National Securities Depository Ltd (NSDL) is expected to finalize its allotment today, August 4, 2025. Following a three-day subscription window that closed on August 1, the IPO witnessed overwhelming investor interest, with an overall subscription of 41.02 times. NSDL, a cornerstone of India’s capital market infrastructure, is now poised for a high-profile listing on the Bombay Stock Exchange (BSE) on August 6.
Key Highlights from the NSDL IPO
- IPO allotment status expected to be finalized today, August 4
- Issue subscribed 41.02 times overall
- GMP stands at ₹120, suggesting a listing price of ₹920 against the issue price of ₹800
- Entirely an Offer for Sale (OFS) of 5.01 crore shares; no fresh capital raised
- Listing scheduled for Wednesday, August 6, 2025
- Allotted shares to be credited to demat accounts by August 5
- Refunds for unallocated bids to begin on the same day
Investor Response: Institutional Appetite Leads the Charge
- Subscription Breakdown
- Qualified Institutional Buyers (QIBs): 103.97 times
- Non-Institutional Investors (NIIs): 34.98 times
- Retail Investors: 7.76 times
- Employee Quota: 15.42 times
Minimum Investment Requirements
- Retail investors: ₹13,680 for one lot (18 shares)
- Small NIIs: ₹2,01,600 (252 shares)
- Large NIIs: ₹10,08,000 (1,260 shares)
The strong institutional demand signals confidence in NSDL’s business fundamentals and long-term growth prospects. Retail participation, while lower in comparison, still reflects healthy interest given the fully priced nature of the offer.
Grey Market Premium and Listing Expectations
- GMP of ₹120 indicates a potential 15% listing gain
- Estimated listing price: ₹920
- Market observers note slight softening in GMP over the past few days
- Despite this, sentiment remains optimistic due to NSDL’s consistent profitability and dividend history
The grey market buzz suggests that NSDL’s listing could be one of the more successful debuts of the year, especially given its strategic role in India’s dematerialized securities ecosystem.
How to Check Allotment Status
Investors can check their allotment status through the following platforms:
- MUFG Intime India (Registrar)
- Visit the registrar’s website
- Select NSDL IPO from the dropdown
- Enter PAN, application number, or DP ID
- Click Submit to view status
BSE Website
- Select Equity and NSDL from dropdowns
- Enter application number and PAN
- Click Search to check status
Successful applicants will see shares credited to their demat accounts by August 5. Refunds for unsuccessful bids will also be processed on the same day.
NSDL’s Market Position and IPO Strategy
- NSDL is India’s oldest depository, playing a pivotal role in capital market infrastructure
- The IPO is aimed at unlocking shareholder value rather than raising fresh funds
- The company has a strong track record of profitability and dividend payouts
- Its leadership in digital securities and compliance makes it a high-profile addition to the listed universe
Brokerages have largely recommended a ‘Subscribe’ rating for long-term investors, citing NSDL’s stable business model and strategic relevance.
Conclusion: All Eyes on August 6
With allotment expected today and listing just two days away, NSDL’s IPO journey is nearing its climax. The strong subscription numbers, robust GMP, and institutional backing suggest a promising debut. For investors, today marks a crucial checkpoint—whether they’ve secured a piece of one of India’s most anticipated listings of 2025.
Source: Business Today
