Source: SEBI
The Initial Public Offering (IPO) of National Securities Depository Limited (NSDL) opened for public subscription on July 30, 2025, and will close on August 1, 2025. This is an Offer for Sale (OFS) of 5.01 crore equity shares with a face value of ₹2 per share, aggregating up to ₹4,011.60 crore.
The allotment of shares is expected to be finalized by Monday, August 4, 2025. Any refunds or fund unblocking from ASBA accounts will be initiated on or before Tuesday, August 5, 2025. The equity shares will be credited to successful investors’ demat accounts on the same day. Trading on the BSE is likely to commence on or before Wednesday, August 6, 2025.
NSDL IPO Structure and Reservation
| Component | Details |
|---|---|
| IPO Open Date | July 30, 2025 |
| IPO Close Date | August 1, 2025 |
| Face Value | ₹2 per share |
| Total Issue Size | 5,01,45,001 shares (₹4,011.60 crore approx.) |
| Offer for Sale | Entire issue is OFS by existing shareholders |
| Employee Reservation | 85,000 shares reserved |
| Net Offer | 5,00,60,001 shares |
| Equity Shares Pre & Post Offer | 20 crore shares (no new issue) |
| Promoter | No identifiable promoter; professionally managed company |
| Listing Date | On or before August 6, 2025 |
NSDL IPO Lead Managers & Registrar
| Category | Name |
|---|---|
| Book Running Lead Managers (BRLMs) | ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital, Motilal Oswal, SBI Capital Markets |
| Registrar to the Offer | MUFG Intime India Pvt. Ltd. (formerly Link Intime India Pvt. Ltd.) |
About National Securities Depository Ltd. (NSDL)
Incorporated in 2012, NSDL is a SEBI-registered Market Infrastructure Institution (MII) and one of India’s leading securities depositories.
Core Functions:
- Maintains electronic records of securities ownership and transfer.
- Facilitates dematerialization, trade settlement, pledging, and off-market transactions.
- Handles corporate actions and provides asset servicing for demat securities.
- Offers value-added services like e-voting, consolidated account statements (CAS), and non-disposal undertakings (NDU).
With a focus on technology and compliance, NSDL plays a crucial role in ensuring transparency and efficiency in India’s capital markets.
Subsidiaries of NSDL (National Securities Depository Ltd.)
NSDL has two key subsidiaries that expand its services beyond core depository operations into e-governance and digital banking:
| Subsidiary Name | Key Functions & Services |
|---|---|
| NSDL Database Management Ltd (NDML) | Offers services in e-governance, compliance, and regulatory platforms.Manages the National Skills Registry and Special Economic Zone (SEZ) automation.Acts as a KYC Registration Agency (KRA) and Insurance Repository. |
| NSDL Payments Bank Ltd (NPBL) | A licensed digital-only payments bank offering B2B-focused financial services.Provides services like domestic money transfer, savings accounts, prepaid cards, AePS (Aadhaar Enabled Payment System), UPI, and micro-ATM solutions.Also supports insurance and mutual fund distribution, POS services, and third-party product partnerships. |
Competitive Strengths of NSDL
- Pioneer in Depository Services: India’s first and leading depository, with a long-standing reputation in digital securities handling.
- Technology-driven Innovation: Consistently launches tech-led solutions like e-voting, CAS, and investor-friendly platforms.
- Robust IT & Cybersecurity: Strong infrastructure with advanced risk management and cybersecurity systems ensuring data safety and operational reliability.
- Diverse Asset and Business Portfolio: Handles a wide range of demat assets and operates across multiple financial service verticals.
- Experienced Leadership:Led by a seasoned management team with deep expertise in capital markets and regulatory operation.
Financial Performance Snapshot (₹ in Crore)
| Financial Metric | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Assets | 2,984.84 | 2,257.74 | 2,093.48 |
| Revenue | 1,535.19 | 1,365.71 | 1,099.81 |
| EBITDA | 492.94 | 381.13 | 328.60 |
| Profit After Tax (PAT) | 343.12 | 275.45 | 234.81 |
| Net Worth | 2,005.34 | 1,684.10 | 1,428.86 |
| Reserves & Surplus | 232.31 | 216.32 | 199.08 |
NSDL saw a 12% revenue growth and 25% jump in PAT in FY 2025 over FY 2024.
Main Objectives of National Securities Depository Ltd. (NSDL)
- To operate and manage depository and clearing services for all types of securities and financial instruments, including activities related to settlement and safekeeping.
- To provide services like pledging, lending, borrowing of securities, and to coordinate with stock exchanges, clearing corporations, issuers, registrars, and other intermediaries.
- To undertake any regulatory or financial sector responsibilities assigned by government authorities or regulators, which align with the business of a depository.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
