National Securities Depository Ltd (NSDL) is set to launch its highly anticipated IPO in 2025. This article covers all essential details about NSDL’s IPO including company overview, issue size, price band, subscription status, financial health, risks, strengths, and how you can participate in this offering.

Company Overview:
Financial Services – Depository ServicesNSDL operates as a central securities depository providing depository services, facilitating holding and transfer of securities electronically in India.
Founded: 1996
Industry: Financial Services – Depository Services
Business Model: NSDL operates as a central securities depository providing depository services, facilitating holding and transfer of securities electronically in India.
Founders: The Ministry of Finance, Government of India, along with key financial institutions
Revenue: ₹1,420.14 Crores (FY 2023)
Customers: Millions of securities accounts and participants including banks, financial institutions and brokers

IPO Details:
IPO Type: Mainline IPO
Issue Size: Nil (pure Offer For Sale)
Offer for Sale (OFS): ₹4,011.60 Crores
Price Band: ₹760 to ₹800 per equity share
Lot Size: 18
GMP: Around ₹0 (Grey Market Premium is negligible)
Open Date: July 30, 2025
Close Date: August 1, 2025
Listing Date: August 6, 2025

IPO Objectives:
To provide an exit opportunity to existing shareholders through the Offer For Sale (OFS).
To enhance company’s public shareholding as per regulatory requirements.

Pre-IPO Placements:
Amount Raised: Not applicable as the IPO is purely an Offer For Sale
Major Investor: Government of India

Financial Highlights:
Year: FY 2022-23
Revenue: ₹1,420.14 Crores
PAT: ₹343.12 Crores
ROE: 18%

Year: FY 2023-24
Revenue: ₹1,500 Crores (estimated)
PAT: ₹360 Crores (estimated)
ROE: 18% (estimated)

Peer Comparison:

Central Depository Services Limited (CDSL) | 66.6 | ₹15,000 Crores (approx)

Strengths:
Dominant market leader in securities depository services with over 70% market share in India.
Strong regulatory backing and high entry barriers due to technological infrastructure requirements.
Consistent financial performance with robust profitability and growing revenues.

Risks:
Highly regulated industry subject to changes in government policies and regulations.
Competition from listed peer CDSL with stronger profitability metrics.
IPO valuation conservative which may affect short-term trading gains.

Expert Verdict:
NSDL’s IPO offers investors a chance to invest in India’s dominant and strategically important securities depository. While priced conservatively compared to its peer CDSL, NSDL’s strong market position and stable financials make this a compelling long-term investment opportunity for risk-tolerant investors.

FAQs:
What type of IPO is National Securities Depository Ltd issuing?
NSDL IPO is a mainline Offer For Sale (OFS) IPO with no fresh issue of shares.

What is the issue size and price band of NSDL IPO?
The IPO opens on July 30, 2025, and closes on August 1, 2025.

What is the lot size for applying to the NSDL IPO?
The lot size is 18 shares.

How can I apply for the NSDL IPO?
You can apply online through your broker’s trading platform or via the BSE/NSE IPO bidding platform using UPI.

How to Apply:
Investors can apply for NSDL IPO through their bank or brokerage account either online or via the IPO application forms. The IPO will be available on platforms such as NSE BSE and popular brokers’ apps. Payment can be made via UPI or ASBA.