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NSDL IPO

National Securities Depository Limited
Start Date30-07-2025
Application Timing10am-5pm
Price Range₹760 - ₹800
Min Qty18
Min. Investment₹13680
Listing Date06-08-2025
Close Date01-08-2025

About National Securities Depository Limited

National Securities Depository Limited (NSDL), incorporated in 2012, is a SEBI-registered Market Infrastructure Institution (MII) and one of India’s leading securities depositories. It provides a wide range of depository services including dematerialization, settlement of trades, pledging of securities, corporate actions, and e-voting. With a presence across 99% of Indian PIN codes and operations extended to 186 countries, NSDL is known for its robust IT infrastructure, secure operations, and diversified service offerings.

The company operates through subsidiaries such as:

NSDL Database Management Ltd. (NDML): Offers e-governance, regulatory tech platforms, SEZ automation, and KYC-related services.

NSDL Payments Bank Ltd. (NPBL): Specializes in B2B digital banking, domestic remittances, AePS, UPI, prepaid cards, and insurance/mutual fund product distribution.

As of March 31, 2025, NSDL had:
39.45 million active demat accounts
294 registered depository participants
33,758 registered issuers

Why To Invest in National Securities Depository Limited

Market Leadership: NSDL is India’s first and one of the largest depositories with a dominant market presence.
Stable Financial Growth: The company reported 25% YoY PAT growth and 12% revenue growth in FY25.
Recurring Revenue Base: A significant portion of NSDL's income is recurring in nature, ensuring business stability.
Diversified Business Model: Through its subsidiaries, NSDL serves varied sectors like fintech, e-governance, and banking.
High ROE and Profit Margins: Impressive Return on Equity (17.11%) and PAT Margin (22.35%) indicate strong financial health.
Technology-Driven Platform: Strong focus on IT, cybersecurity, and risk management enhances operational reliability.
Widespread Reach: PAN-India presence and international recognition.

Financial Table
Period Ended 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets2,984.84 2,257.742,093.48
Revenue1,535.191,365.711,099.81
Profit After Tax 343.12275.45 234.81
EBITDA492.94381.13328.60
Net Worth 2,005.341,684.10 1,428.86
Reserves and Surplus 232.31 216.32199.08
Strengths And Risks
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Market Leadership: NSDL is India’s first and one of the largest securities depositories, holding a dominant position in the market.
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Strong Financial Track Record: The company has demonstrated consistent growth, with a 12% rise in revenue and a 25% increase in profit after tax in FY25.
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Diversified Business Model: Through subsidiaries like NDML and NPBL, NSDL has expanded into e-governance, digital banking, and regulatory services, reducing overdependence on a single revenue stream.
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Tech-Driven Operations: NSDL leverages advanced IT infrastructure, cybersecurity systems, and risk management frameworks to ensure secure and efficient operations.
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Wide Reach and Customer Base: With 39.45 million active demat accounts across 99% of Indian PIN codes and presence in 186 countries, the company enjoys vast geographical coverage
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Recurring and Stable Revenue Base: A large portion of NSDL’s income is recurring, providing steady cash flow and long-term financial stability.
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Experienced Leadership: NSDL is guided by a seasoned senior management team with extensive experience in financial infrastructure and technology innovation.
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No Fresh Capital Infusion: The IPO is entirely an Offer for Sale (OFS), meaning proceeds will go to selling shareholders, not the company itself.
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Regulatory Dependence: Being a SEBI-regulated entity, any adverse regulatory changes could impact operations and revenue streams.
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Market-Dependent Revenue: NSDL’s performance is closely linked to capital market activity, which may fluctuate due to economic cycles or investor sentiment.
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Competitive Landscape: NSDL faces strong competition from other depository institutions like CDSL, which could impact market share and margins.
FAQs
What is the issue size of the NSDL IPO? +
What are the IPO dates for subscription? +
What is the price band and lot size of NSDL IPO? +
Is there any reservation for employees? +
On which exchange will NSDL be listed? +

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