By Chaitanya (BBA Finance Graduate & 6+ Years of Experience in Stock market & Finance)

Last Updated: August 4, 2025

The much-awaited IPO of National Securities Depository Limited (NSDL), a key player in India’s financial infrastructure, saw strong investor participation and ended its subscription period on a high note. The public issue, which was entirely an Offer For Sale (OFS) and did not involve any fresh equity issuance by the company, successfully garnered significant bids from all investor categories. This paves the way for its listing on India’s premier exchanges, BSE and NSE, which is now slated for August 6, 2025.

Key Details of the NSDL IPO

NSDL’s IPO aimed to raise between ₹3,811.02 crore and ₹4,011.6 crore, offering up to 50,145,001 equity shares, each with a face value of ₹2. The price band for the IPO was set at ₹760 to ₹800 per equity share, with investors required to apply for a minimum lot size of 18 shares. The entire IPO was an Offer For Sale (OFS), which means that the existing shareholders were selling their shares, and NSDL itself wasn’t raising any fresh funds through this issue as per official filings

How to Check Your NSDL IPO Allotment Status

Investors who applied for the NSDL IPO can verify their allotment status starting from August 4, 2025. The process is straightforward and can be completed online through several official platforms:

• Visit NSE India website Verify IPO Bid/Allotment Details page click here or,
• Visit the official registrar’s website, Link Intime India Private Ltd.
• Select Company as NSDL IPO
• Enter PAN/App. No/DP/Client ID Account No/IFSC.
• Click Submit.

To check your status, you will typically need to enter your PAN number, IPO application number, or your Demat Client ID. It is always advised to verify your allotment officially from these registrar websites for definitive share allocation details.

Investor Response: A Detailed Look

The NSDL IPO, which was open for subscription from July 30, 2025, to August 1, 2025, witnessed strong demand across the board. By the close of the bidding period on August 1, 2025, the overall subscription stood at an impressive 8.17 times. Non-Institutional Investors (NIIs) led the charge, subscribing to their quota by an astounding 20.75 times, demonstrating significant confidence from high net-worth individuals and corporate entities.

Retail investors, too, showed considerable enthusiasm, with their portion being subscribed 5.71 times. Qualified Institutional Buyers (QIBs) also participated actively, ensuring a well-rounded demand profile. A dedicated quota of approximately 85,000 shares was reserved for employees, who also subscribed robustly at 8.76 times their allocated portion.

The subscription trend showed increasing momentum over the three days, beginning with a total of 0.78 times on Day 1, surging to 5.04 times by Day 2, and concluding at 6.78 times (as per some reports) by the end of Day 3, showing that investor interest picked up steadily during the offer period.

What’s Next for Investors: Allotment and Listing

For those who applied, the allotment of shares will take place on August 4, 2025. If you don’t receive shares, the refund process will begin from August 5, 2025. The eagerly awaited listing of NSDL shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) is set for August 6, 2025. Market experts expect the stock to list with a gain of around ₹125–126 over the issue price, which is nearly a 15.6% jump suggesting a decent listing performance after the IPO, despite a slight drop in Grey Market Premium (GMP) to 16% recently.

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Understanding NSDL’s Business and Future Prospects

National Securities Depository Limited (NSDL) is registered with SEBI and plays an important role in India’s financial system. It helps manage electronic records of shares and other financial instruments, making stock market operations safer and more efficient for investors and companies. Beyond its core depository functions, NSDL is strategically expanding its revenue streams through its key subsidiaries. NSDL Database Management Ltd (NDML) and NSDL Payments Bank Ltd (NPBL) are notable examples, venturing into e-governance, regulatory platforms, and digital banking services.

This diversification strategy is expected to strengthen NSDL’s presence in the broader digital financial services landscape, enhancing its long-term growth prospects, as highlighted in various market analysis reports.

Conclusion

The NSDL IPO has gained strong interest from investors, showing their trust in the company’s solid market presence and plans for future growth. With the allotment process underway and the listing just around the corner on August 6, 2025, all eyes will be on how NSDL performs in the secondary market. The strong subscription figures and expected listing gains indicate that this major financial services company may have a solid start on the stock market.

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