NSDL IPO Receives 20.89 Times Subscription Applications by 3 P.M. of Day 3

Mumbai, 1 August 2025: The ₹4,011.60 crore initial public offering (IPO) of National Securities Depository Limited (NSDL) has received an overall subscription of 20.89 times by 3:04 PM on Day 3. With a few hours still left before bidding closes today, the IPO has attracted significant interest across investor categories, with retail investors subscribing 7.13 times and institutional demand continuing to climb.

Retail Subscription at 7.13x So Far; Highest Bid Interest from QIBs and Non-Institutional Investors

By 3:04 PM, the retail category witnessed bids for 12,49,54,398 shares against 1,75,21,001 shares on offer, amounting to a 7.13x subscription. Meanwhile, the Qualified Institutional Buyers (QIB) category saw a robust 36.12x subscription, and the Non-Institutional Investors (NII) segment reached 32.79x, led by bNII bids (above ₹10 lakh) at 35.43x and sNII (below ₹10 lakh) at 27.51x.

Total Bids Cross 73.39 Crore Shares; Over ₹58,700 Cr in Value as of 3:04 PM

As of the latest data, total bids for NSDL IPO stood at 73,39,06,584 shares, translating into a cumulative bid value of ₹58,712.53 crore. The number of applications received so far is 47,42,739, underscoring the wide interest from all investor segments.

Anchor Investors Had Already Picked Up ₹1,201.44 Cr Worth of Shares on July 29

Earlier, NSDL raised ₹1,201.44 crore from anchor investors on July 29, allocating 1,50,17,999 shares at the upper end of the price band. These shares are subject to a lock-in period of 30 days for 50% and 90 days for the remaining 50%.

NSDL IPO Issue Structure: Entirely an Offer for Sale of 5.01 Cr Shares Worth ₹4,011.60 Cr

The IPO comprises only an Offer for Sale (OFS) of 5,01,45,001 shares, amounting to a total issue size of ₹4,011.60 crore. There is no fresh issue component.

IPO Price Band and Lot Size:

• Price band: ₹800 per share
• Lot size (Retail): 18 shares (₹13,680)
• Lot size (sNII): 14 lots or 252 shares (₹2,01,600)
• Lot size (bNII): 70 lots or 1,260 shares (₹10,08,000)

The IPO also includes a reservation of 85,000 shares for employees, who are offered a discount of ₹76 per share.

Proceeds to Existing Shareholders; No Fresh Capital for the Company

Since the entire IPO is an OFS, the proceeds will go to the existing shareholders who are selling their stake. NSDL itself will not receive any funds from the issue.

Key Dates to Watch: Allotment on 4 Aug, Listing Expected on 6 Aug

The IPO opened for subscription on July 30, 2025, and closes today, August 1, 2025. The post-issue timeline is as follows:

• Tentative Allotment: Monday, August 4, 2025
• Initiation of Refunds: Tuesday, August 5, 2025
• Credit of Shares to Demat Accounts: Tuesday, August 5, 2025
• Expected Listing Date on BSE: Wednesday, August 6, 2025

About NSDL: India’s First and Largest Depository with Over ₹400 Lakh Cr Assets Under Custody

Established in 1996, National Securities Depository Limited (NSDL) was the first depository in India and continues to be the largest, holding assets worth over ₹400 lakh crore under custody as of FY25. The company plays a critical role in the Indian capital markets by offering dematerialisation, settlement, e-voting, and PAN verification services to intermediaries, corporates, and investors.

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