NSDL shares soar 62.5% in 3 days: What's the buzz
NSDL, India's biggest securities depository, listed at ₹880 on August 6, 2024—up from the offer price of ₹800.
Thanks to massive demand (41 times oversubscribed), shares shot up 62.5% in just three days, reaching ₹1,300.30.
Early investors' massive returns
Early investors like SBI and IDBI Bank got in at around ₹2 per share and have now seen returns over 650,000%.
NSDL's valuation has even overtaken rival CDSL, with its price-to-earnings ratio hitting 79 (compared to CDSL's 66).
Behind-the-scenes powerhouse of India's stock markets
NSDL is a behind-the-scenes powerhouse for India's stock markets—handling demat accounts, trade settlements, e-voting and more for mutual funds, banks and foreign investors.
Even after a quick dip from an intraday high of ₹1,425 on August 11 due to profit booking, analysts are still upbeat about its future.
Race between NSDL and CDSL heats up
NSDL is set to announce its first quarterly results as a listed company today (August 12).
Analysts highlight its strong market position and tech edge but say the current share price looks pricey.
Meanwhile, competitor CDSL is also growing fast—so the race between these two isn't slowing down anytime soon.