National Securities Depository IPO
Bookbuilding IPO | ₹4,011.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Jul 30, 2025
IPO Close
Fri, Aug 01, 2025
Price Band
₹760.00 to ₹800.00
Market Cap (Pre-IPO)
₹16,000.00 Cr
IPO Details
| IPO Date | Jul 30, 2025 to Aug 01, 2025 |
| Listing Date | Tentative: Aug 06, 2025 |
| Face Value | ₹2.00 per share |
| Price Band | ₹760.00 to ₹800.00 |
| Lot Size | 18 Shares (Minimum: ₹14,400.00) |
| Sale Type | Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹4,011.00 Crores |
| Total Shares Offered | 50,145,001 shares |
| Offer For Sale | 50,145,001 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 103.97x |
| NII | 34.98x |
| RII | 7.76x |
| Total | 41.02x |
National Securities Depository IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 2,50,29,999 (49.92%) |
| Retail Shares Offered | 1,75,21,001 (34.94%) |
| NII Shares Offered | 75,09,001 (14.97%) |
National Securities Depository IPO Lot Size
Investors can bid for a minimum of 18 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,400 |
| Retail (Max) | 13 | 234 | ₹187,200 |
| S-HNI (Min) | 14 | 252 | ₹201,600 |
| S-HNI (Max) | 69 | 1,242 | ₹993,600 |
| B-HNI (Min) | 70 | 1,260 | ₹1,008,000 |
National Securities Depository Financial Information (Restated Consolidated)
National Securities Depository Ltd.'s revenue increased by 12% and profit after tax (PAT) rose by 25% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 2,984.84 | 2,257.74 | 2,093.48 |
| Total Income | 1,535.19 | 1,365.71 | 1,099.81 |
| Profit After Tax | 343.12 | 275.45 | 234.81 |
| EBITDA | 492.94 | 381.13 | 328.60 |
| NET Worth | 2,005.34 | 1,684.10 | 1,428.86 |
| Reserves and Surplus | 232.31 | 216.32 | 199.08 |
| Total Borrowing | 0.00 | 0.00 | 0.00 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 17.11% |
| ROCE (Return on Capital Employed) | 22.70% |
| Debt/Equity | 0.00 |
| RoNW (Return on Net Worth) | 17.11% |
| PAT Margin (Profit After Tax Margin) | 22.35% |
| EBITDA Margin | 23.95% |
| Price to Book Value | 7.98 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 17.16 | 0.00 |
| P/E (x) | 46.63 | 0.00 |
| Promoter Holding | 0.00% | 0.00% |
Company Overview
Incorporated in 2012, National Securities Depository Limited (NSDL) is SEBI-registered Market Infrastructure Institution (MII).
Core Activities:
- Acts as a securities depository in India.
- Maintains electronic records of allotment and ownership transfer of securities.
- Provides depository services including dematerialization, trade settlement, off-market transfers, pledging of securities, and corporate actions.
- Provides asset servicing for securities held in dematerialized form.
- Offers additional services such as e-voting, consolidated account statements (CAS), and non-disposal undertakings (NDU).
Subsidiaries:
- NSDL Database Management Limited (NDML): Offers services across e-governance, regulatory platforms, KYC, insurance repository, and collaborative industry platforms. Handles SEZ automation and the National Skills Registry.
- NSDL Payments Bank Limited (NPBL): Operates a business-to-business payments bank. Provides digital banking, domestic remittances, savings accounts, AePS, micro-ATMs, prepaid cards, UPI, POS, and third-party product distribution (insurance and mutual funds).
Key Figures (as of March 31, 2025):
- Active demat accounts: 39.45 million
- Registered depository participants: 294
- Registered issuers: 33,758
- Account holders located in over 99% of Indian PIN codes and in 186 countries
Company Strengths
- India’s first and leading depository, operating a wide range of technology-driven businesses.
- Strong focus on technology-led product innovation.
- Robust IT infrastructure, risk management frameworks and cyber-security measures focused on ensuring the safety and integrity of the depository system.
- Stable revenue base with a significant proportion of recurring revenue.
- Large Variety of Asset Classes held in Demat Accounts and Well-diversified Business Verticals.
- Experienced senior management team.
Use of Proceeds
| 1) | Achieve the benefits of listing the Equity Shares on BSE |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
National Securities Depository IPO Peer Comparison
National Securities Depository peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| National Securities Depository Ltd. | 17.16 | 17.16 | 100.27 | 0.00 | 17.11 | 0.00 | Consolidated |
| Central Depository Services (India) Limited | 25.20 | 25.20 | 84.23 | 68.04 | 29.90 | 20.40 | Consolidated |
Quick Info
| Sector | Financial Services |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹16,000.00 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Jul 30, 2025 |
| IPO Close | Aug 01, 2025 |
| Allotment Date | Aug 04, 2025 |
| Credit to Demat | Aug 05, 2025 |
| Listing Date | Tentative: Aug 06, 2025 |
Lead Manager(s)
ICICI Securities Ltd.
Registrar
MUFG Intime India Pvt.Ltd.
91-22-4918 6270
Description
- NSDL IPO is a book build issue of ₹4,010.95 crores. The issue is entirely an offer for sale of 5.01 crore shares of ₹4,010.95 crore.
- NSDL IPO bidding started from Jul 30, 2025 and ended on Aug 1, 2025. The allotment for NSDL IPO was finalized on Aug 4, 2025. The shares got listed on BSE on Aug 6, 2025.
- NSDL IPO price band is set at ₹800.00 per share . The lot size for an application is 18. The minimum amount of investment required by an retail is ₹13,680 (18 shares). The lot size investment for sNII is 14 lots (252 shares), amounting to ₹2,01,600, and for bNII, it is 70 lots (1,260 shares), amounting to ₹10,08,000.
- The issue includes a reservation of up to 85,000 shares for employees offered at a discount of ₹76.00 to the issue price.