The NSDL IPO will be accessible for subscriptions from July 30 to August 1, 2025. The NSDL IPO allotment should be finished by Monday, August 4, 2025. The NSDL IPO will be listed on the BSE, with a possible listing date of Wednesday, August 6, 2025.
5.01 crore shares are being book-built for the NSDL IPO. The issue consists solely of a 5.01 crore offer for sale (OFS).
The price bands for the NSDL IPO are ₹760 to ₹800 per share.
The NSDL IPO's book-running lead manager is ICICI Securities Limited, and the issue's registrar is MUFG Intime India Private Limited (Link Intime).
| IPO Open Date |
Wed, July 30, 2025 |
| IPO Close Date |
Fri, August 1, 2025 |
| Cut-off time for UPI mandate confirmation |
5 PM on August 1, 2025 |
| Listing Date |
Wed, Aug 6, 2025 (Tentative) |
| Lot Size |
18 Shares |
| Face Value |
₹2 per share |
| Issue Price Band |
₹760 to ₹800 per share |
| Listing At |
BSE |
| Sale Type |
Offer For Sale |
| Issue Type |
Bookbuilding IPO |
| Total Issue Size |
5,01,45,001 shares (aggregating up to ₹* Cr) |
| Shareholding Pre-Issue |
20,00,00,000 shares |
| Shareholding Post Issue |
20,00,00,000 shares |
About National Securities Depository Ltd. (NSDL)
National Securities Depository Limited (NSDL), a Market Infrastructure Institution (MII) registered with SEBI, was founded in 2012.
Crucial responsibilities:
- Serves as an Indian securities depository.
- Maintains electronic records of securities' allocation and transfer of ownership.
- Offers a range of depository services, including corporate actions, trade settlement, off-market transfers, securities pledging, and dematerialization.
- Offers asset servicing for dematerialised securities.
- Provides extra services like non-disposal undertakings (NDU), consolidated account statements (CAS), and electronic voting.
Subsidiaries:
- NSDL Database Management Limited (NDML): Provides services in the areas of insurance repositories, regulatory platforms, KYC, e-governance, and cooperative industry platforms.
- A business-to-business payments bank is run by NSDL Payments Bank Limited (NPBL). offers prepaid cards, UPI, POS, AePS, micro-ATMs, digital banking, savings accounts, domestic remittances, and third-party product distribution (mutual funds and insurance).
Important Data (as of June 30, 2025):
| Metric |
Value |
| Demat Custody Value (₹ Lakh Crore) |
₹510.91 Lakh Crore |
| Companies Joined |
90,409 |
| Client Accounts Active |
4,04,93,490 |
| DP Geographical Coverage (Cities/Towns) |
2,059 |
| Presence in Indian Pincodes |
99.35% of all pincodes |
| Number of Certificates Eliminated (Approx.) |
9,987 Crore |
| Accounts having Debt Instruments |
4,00,421 |
| Demat Custody Value (US$ Billion) |
US$ 5,973 Billion |
| Avg. Accounts Opened Per Day (Since Nov 1996) |
5,668 |
| DP Service Centres |
65,983 |
| Demat Custody Quantity (Crore Securities) |
5,09,417 |
| Companies with >75% Shares Dematted |
29,868 |
| Depository Participants (DPs) |
296 |
National Securities Depository Ltd. Financial Information
| Period Ended |
31 Mar 2024 |
31 Mar 2023 |
31 Mar 2022 |
31 Mar 2021 |
| Assets |
₹2,824.12 Cr. |
₹ 2,093.48 Cr. |
₹ 1,692.75 Cr. |
₹ 1,504.01 Cr. |
| Revenue |
₹1,141.41 Cr. |
₹ 1,099.81 Cr. |
₹ 821.29 Cr. |
₹ 526.12 Cr. |
| Profit After Tax |
₹259.83 Cr. |
₹ 234.81 Cr. |
₹ 212.59 Cr. |
₹ 188.57 Cr. |
| Net Worth |
₹370.79 Cr. |
₹ 1,428.86 Cr. |
₹ 1,211.62 Cr. |
₹ 1,019.30 Cr. |
| Reserves and Surplus |
₹1,882.15 Cr. |
₹ 1,388.86 Cr. |
₹ 1,171.62 Cr. |
₹ 979.30 Cr. |
Key Performance Indicator (KPI)
| KPI |
Values |
| ROE |
16.43% |
| RoNW |
16.43% |
| PAT Margin |
21.35% |
|
Pre IPO |
Post IPO |
| EPS (Rs) |
11.74 |
11.74 |
Competitive Strengths of National Securities Depository Ltd.:
- The first and most prominent depository in India, running a variety of tech-driven enterprises.
- Strong emphasis on product innovation driven by technology.
- Strong cybersecurity protocols, risk management frameworks, and IT infrastructure aimed at protecting the depository system's integrity and safety.
- Steady revenue stream that includes a sizable amount of recurring income.
- Demat accounts and well-diversified business verticals hold a wide range of asset classes.
- Seasoned senior management group.
Key Risks Involved In The NSDL IPO:
Each equity share has a face value of ₹2. The market price of the equity shares after they are listed should not be interpreted as being determined by the Floor Price, Cap Price, and Offer Price set by our company and the selling shareholders, after consulting with the book running lead managers, based on the evaluation of market demand for the equity shares through the Book Building Process. The price at which the Equity Shares will be traded following listing, as well as the existence of active and/or sustained trading in the Equity Shares, cannot be guaranteed.
Key Strength:
- The corporation is in a strong position in the depository sector because its demat accounts hold a wide range of asset classes. A lot of focus on new products that are based on technology.
- Strong IT infrastructure, complete risk management systems, and cybersecurity rules that protect the security and integrity of the depository system.
- A steady stream of income, with a large part coming from recurring income.
- Demat accounts have a wide range of asset classes, and the portfolio of business segments is well-diversified.
- A leadership team that is skilled and has a lot of expertise.
- As of March 31, 2023, NSDL is the best depository in India in many ways, including the number of issuers, active instruments, market share in dematerialised settlement volumes, and the overall value of the assets it holds.
Leadership & Board of National Securities Depository Ltd.
Mr Vijay Chandok, the Managing Director and CEO of NSDL, has over thirty years of experience in the banking and capital markets industry. He has held senior positions at ICICI Bank and ICICI Securities. Mr. Parveen Kumar Gupta, the board chairman, has been with SBI for 37 years and is an experienced banker with a focus on digital and retail banking. Prominent scholar and cybersecurity specialist Prof. Rajat Moona and seasoned regulator Dr. Madhu Sudan Sahoo, who has worked at SEBI, IBBI, and CCI, are among the important board members. As an independent director, Ms. Sripriya Kumar, a seasoned chartered accountant, contributes knowledge of risk and compliance. This leadership group provides NSDL's operations with sound strategic direction and regulatory insight.