The NSDL IPO is scheduled to open from July 30 to August 1, 2025, with a price band of ₹760 to ₹800 per share, aiming to raise approximately ₹4,011.60 crore through a 100% Offer For Sale (OFS) by existing shareholders. National Securities Depository Limited (NSDL) is a SEBI-registered Market Infrastructure Institution and the largest securities depository in India, facilitating electronic holding, transfer, and settlement of securities. NSDL plays a crucial role in the Indian capital markets with services including dematerialization, trade settlement, e-voting, and KYC authentication. The NSDL IPO is notable for providing exposure to a core financial market infrastructure player.
₹130
₹800
₹880.00
Expert Opinions
The NSDL IPO is met with positive market sentiment, driven by the company’s critical role as India’s largest securities depository and its consistent financial growth. NSDL’s strengths include a dominant market position, extensive infrastructure facilitating dematerialization, trade settlement, and value-added services such as e-voting and KYC authentication. For FY 2025, the company posted a solid Return on Equity (ROE) of 17.11%, Return on Capital Employed (ROCE) of 22.7%, and a robust Net Asset Value (NAV) of ₹100.27, reflecting efficient capital utilization and stable profitability.
However, risks include intense competition from Central Depository Services (India) Ltd (CDSL), sector regulation changes, and evolving technology demands. From a long-term investment perspective, the NSDL IPO offers potential steady returns, given its foundational role in India’s capital markets and ongoing market expansion, making it suitable for investors seeking stability in a core financial infrastructure entity with manageable risk exposure.
Investor Considerations
The NSDL IPO presents a company with strong fundamentals and solid financial performance in FY 2025, reporting a robust PAT margin of 22.35%, an EBITDA margin of 23.95%, and a Price to Book Value of 7.98, reflecting efficient profitability and capital utilization. NSDL plays a vital role in the Indian capital markets as the largest securities depository, benefiting from growing transaction volumes, increasing demat accounts, and value-added services like e-voting and KYC authentication.
The sector outlook remains positive due to expanding capital markets and regulatory support for digital transactions. Growth prospects include broadening service offerings, technology integration, and market penetration. Risk factors involve stiff competition from CDSL, dependency on transaction volumes, regulatory changes, and technological disruptions. The IPO fits well for long-term investors seeking stability and steady capital appreciation in a core financial infrastructure entity, while short-term investors should consider market volatility and listing gains cautiously. The NSDL IPO offers an opportunity to participate in a foundational pillar of India’s securities ecosystem.
| Date | GMP | Trend |
|---|---|---|
| 05 Aug 2025 19.16 | ₹130 | Up |
| 04 Aug 2025 11.49 | ₹125 | --- |
| 02 Aug 2025 20.18 | ₹125 | Down |
| 01 Aug 2025 11.32 | ₹135 | Down |
| 31 Jul 2025 19.25 | ₹145 | Up |
| 30 Jul 2025 11.04 | ₹130 | --- |
| 29 Jul 2025 19.59 | ₹130 | Down |
| 28 Jul 2025 11.28 | ₹135 | Down |
| 24 Jul 2025 10.36 | ₹165 | --- |
| 23 Jul 2025 15.39 | ₹165 | Up |
| 22 Jul 2025 10.47 | ₹160 | Up |
| 21 Jul 2025 10.37 | ₹155 | Up |
| 20 Jul 2025 13.04 | ₹145 | --- |
| 19 Jul 2025 12.12 | ₹145 | Up |
| 18 Jul 2025 10.36 | ₹00 | --- |
| 17 Jul 2025 10.33 | ₹00 | --- |
| 16 Jul 2025 10.43 | ₹00 | --- |
| 15 Jul 2025 10.53 | ₹00 | --- |
| 14 Jul 2025 11.05 | ₹00 | --- |
| 13 Jul 2025 15.26 | ₹00 | --- |
| 12 Jul 2025 15.59 | ₹00 | --- |
| 11 Jul 2025 10.14 | ₹00 | --- |
| 10 Jul 2025 10.36 | ₹00 | --- |
| 09 Jul 2025 10.58 | ₹00 | --- |
| 08 Jul 2025 19.48 | ₹00 | --- |
FAQs
The Grey Market Premium showed fair accuracy in predicting NSDL IPO’s listing performance. With a final GMP of ₹130, it projected a premium of 16.25% over the issue price of ₹800. The stock listed at ₹880, delivering a gain of 10%. This resulted in a moderate prediction error of 6.25%, where the GMP correctly signaled a positive listing but slightly overestimated the actual gain, reflecting fair reliability in this case.
NSDL IPO Current GMP is ₹130.
NSDL IPO Expected Returns is 16.25%.
NSDL IPO estimated listing price is ₹930.