NSDL IPO Subscription Reaches 8.70 Times on Day 3

The NSDL IPO has received a strong response from investors, with a subscription of 8.95x by the first half of Day 3. The company is offering shares at a price of Rs. 800 per share, with a minimum lot size of 18 shares. The issue size stands at Rs. 4,011.60 crore, comprising the entire offer for sale. Stay tuned for the latest updates on the National Securities Depository Limited (NSDL) IPO subscription status as the offering progresses.

NSDL IPO Subscription Status - Day 3

The NSDL IPO was subscribed 8.95 times overall by the first half of Day 3, with Retail Investors at 5.96 times, Non-Institutional Investors (NIIs) showing strong demand at 22.68 times, and Qualified Institutional Buyers (QIBs) at 3.87 times.

Last updated: 12:40 PM, Friday, 01 Aug 2025

NSDL IPO Subscription Status - Day 2

The NSDL IPO witnessed an overall subscription of 5.04 times on Day 2. The Retail Investor Category was subscribed 4.19x, while Non-Institutional Investors (NIIs) displayed stronger interest at 11.08x. On the other hand, Qualified Institutional Buyers (QIBs) remained cautious, subscribing at just 1.96x.

NSDL IPO Subscription Status - Day 1

The NSDL IPO saw an overall subscription of 0.78 times on Day 1. The Retail Category subscribed at 0.84x, while Non-Institutional Investors (NIIs) showed relatively stronger interest with 1.32x. Qualified Institutional Buyers (QIBs) remained largely cautious, subscribing only 0.26x on the opening day.

Company Overview of the National Securities Depository Limited (NSDL) IPO

NSDL Limited is the country's first and largest depository that provides the facility to hold securities in electronic form. Started in 1996, NSDL today has a strong presence across India.

The company's services are not limited to electronic holding of equity, debentures, mutual funds, and bonds, but also include PAN application, National Pension System (NPS), e-KYC, and many other digital services. NSDL's network today is spread across the country and includes more than 2.8 crore investors and around 2,98,000 Active Demat accounts.

Strengths and Risks of NSDL IPO

Let’s dive into the strengths and risks to assess if the National Securities Depository IPO is good or bad for investors

Strengths: 

• Industry Leadership in Depository Services: NSDL is India's first and oldest depository, established in 1996. As of March 2025, NSDL has deposited securities worth over Rs. 325 lakh crore, making it the country's leading depository.

• Strong customer base and network: As of March 2025, NSDL has over 3.4 crore active depository accounts, connected through a network of over 2,00,000 service centers/DPs across the country. This network contributes rapidly to financial inclusion and investor access.

• Strong financial performance: The company has a strong financial track record. While the company's PAT was Rs. 234.81 crore in FY23, it increased to Rs. 275.45 crore in FY24 and Rs. 343.12 crore in FY25. Similarly, revenue has also grown for three consecutive years from Rs. 1,099.81 crore in FY23 to Rs. 1,535.19 crore in FY25.

• Technology-Driven Platform: NSDL has made its systems completely digital and automated. Innovation and automation in services like e-Voting, PAN Verification, e-KYC have significantly increased the operational efficiency of the company.

• Regulatory Backing and Trust: NSDL is licensed by major regulatory bodies like SEBI and RBI. This reflects regulatory trust and confidence in transparency, which reassures investors.

Risks:

• Regulatory Dependence: NSDL's operations are based on SEBI, RBI, and other regulatory guidelines. Any regulatory changes can affect the company's business model and revenue structure.

• Competition from CDSL & New Entrants: Although NSDL is the market leader, it faces tough competition from other depositories like CDSL. Also, the arrival of fintech companies and blockchain-based solutions can increase competition even more.

• Concentration of Business in the Indian Capital Market: NSDL's entire operation is dependent on the Indian capital market. If there is a major decline in the domestic market or the interest of investors decreases, it can have a direct impact on the company's income.

• Technology Risks & Cybersecurity Threats: Being a digital platform, the company is exposed to the risks of cyber attacks and technical failures. A data breach or system failure can affect both the company's image and operations.

• Limited Global Diversification: NSDL's entire focus is on the Indian market. Its expansion internationally is limited, which makes it safe from global risks, but it may also deprive it of growth opportunities.

National Securities Depository Limited (NSDL) IPO Details

• IPO Date: July 30, 2025 to August 1, 2025

• Issue Price: Rs. 800 per share

• Lot Size: 18 shares

• Total Issue Size: 5,01,45,001 shares (aggregating up to Rs. 4,011.60 crore)

• Tentative Allotment Date: August 4, 2025

• Tentative Listing Date: August 6, 2025

How to Apply for NSDL IPO

• Visit the Rupeezy app or Rupezy DOCK.

• Navigate to the IPO section on the Home Page

• Here, you can view all the IPOs with details such as market lot, minimum bid quantity, price range, and analysis.

• You can read the Red Herring Prospectus for the issue details.

• Click on Apply.

• Enter your UPI ID for payment & place the bid.

• While placing the bid, enter the cutoff price or desired price in the range specified. Select quantity as per lot size. 

• Submit to complete the order.