NSDL's IPO: Employees, retail investors lead the charge
NSDL's IPO got a strong response on day one—employees oversubscribed their quota by 3.68 times, while retail investors went 1.87 times over their share.
Non-institutional investors (bids ₹2-10 lakh) showed even more excitement, subscribing 3.97 times the reserved amount.
However, big institutional buyers (QIBs) were less enthusiastic, with only 0.84 times subscription.
What does NSDL do?
NSDL is India's first and biggest central securities depository—think of it as the digital locker for stocks, bonds, and mutual funds worth over ₹464 lakh crore.
It handles secure settlements for most of India's market value (66%).
What to expect?
This IPO is a pure offer-for-sale—meaning promoters like NSE, SBI, and IDBI Bank are selling shares but NSDL isn't raising fresh money right now.
Shares are priced at ₹760-₹800 each; listing happens August 6th. The gray market premium of nearly ₹125 hints at strong investor vibes ahead.
Once listed, NSDL will join CDSL as India's only publicly traded securities depositories—cementing its top spot in the industry.