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NSDL Share Price Live Updates: Shares of National Securities Depository Ltd will make its debut in the Indian stock market today. NSDL shares will be a part of Special Pre-open Session (SPOS), as per BSE notice. Experts predicted that the NSDL IPO expected listing price is likely to see solid gains compared to its issue price. NSDL IPO allotment status was finalised on Monday, August 4.

NSDL IPO subscription status on the last bidding day was 41.01 times, according to BSE data.

The retail investor segment was subscribed 7.73 times. The allocation for non-institutional investors saw a subscription rate of 34.98 times. The portion reserved for qualified institutional buyers (QIBs) was booked at 103.97 times. The employee segment witnessed a subscription rate of 15.42 times.

The public offering of the depository consists solely of a sale offer (OFS) for 5.01 crore shares, with the sellers including the National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and the Administrator of Specified Undertaking of the Unit Trust of India (SUUTI).

NSDL is a market infrastructure institution registered with Sebi that provides a variety of products and services to India's financial and securities markets. After the Depositories Act was enacted in 1996, it spearheaded the dematerialisation of securities in India beginning in November 1996.

(Stay tuned for more updates)

As per SEBI regulations, no individual entity can possess more than a 15% stake in a Market Infrastructure Institution (MII). The NSDL IPO, given that both IDBI and NSE hold over 15% of NSDL's shares, enables these organizations to adhere to the 15% ownership cap.

The company initially filed its draft red herring prospectus in July 2023, followed by an addendum in May 2025, which decreased the issue size from 5.72 crore shares to 5.01 crore. SEBI has granted NSDL approval to finalize its listing process by August 14, 2025.

According to Harshal Dasani Business Head, INVasset PMS, NSDL remains a foundational pillar of India’s capital markets, holding over ₹464 lakh crore in assets under custody. Unlike CDSL, it primarily services institutional and large non-retail clients, commanding over 89% market share in corporate demat accounts. Its revenue model is transaction-linked but stable, and regulatory tailwinds from rising demat account openings and new retail flows provide long-term visibility.

However, the listing valuations are steep, especially in comparison to CDSL, which trades at a discount despite being a listed peer. Also, the absence of fresh capital infusion means the IPO will not directly fund future growth. That said, NSDL’s strong governance, duopoly positioning, and scale of operations make it a long-term compounding candidate. We expect a healthy listing, though upside from there will need to be backed by consistent financial performance and potential monetisation of new service lines.

NSDL remains a frontrunner in value-driven transactions and institutional account assets, supported by a strong foundation of industry confidence and a solid technological framework, establishing it as a vital component of India's capital market system. Together with CDSL, it creates a near-duopoly characterized by significant obstacles for new entrants in the market.

According to Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd, given the strong subscription levels and current market sentiment, we expect a decent listing gain in the range of 12–15% or higher, depending on listing day mood. However, beyond the short-term listing pop, NSDL represents a compelling long-term proxy play on the growth of institutional participation in Indian capital markets.

“Therefore, we recommend allotted investors to HOLD it for long-term perspective while non-allotted investors can WAIT & WATCH for potential post-listing dip opportunity to enter,” added Tapse. 

The NSDL IPO comprises a complete sale of up to 5.01 crore equity shares from current shareholders. IDBI Bank intends to offload as many as 2.22 crore shares, while the National Stock Exchange (NSE) plans to offer up to 1.80 crore shares. State Bank of India (SBI) aims to sell up to 40 lakh shares, HDFC Bank will offer up to 20 lakh shares, and Union Bank of India will put forth 5 lakh shares.

NSDL Share Price Live: NSDL raised ₹4,011.60 crore from the book-building issue at the upper-end of the IPO price band of ₹760 to ₹800 per share. NSDL IPO was entirely an offer-for-sale (OFS) of 5.01 crore equity shares.

NSDL Share Price Live: NSDL IPO was subscribed 41.01 times in total, according to the subscription data on BSE. The Retail investors category was booked 7.73 times, while the Non Institutional Investors (NII) portion was subscribed 34.98 times. The Qualified Institutional Buyers (QIBs) category received 103.97 times subscription.

NSDL Share Price Live: NSDL IPO was open for subscription from July 30 to August 1, and IPO allotment date was August 4. NSDL IPO listing date is today, August 6. NSDL shares will be listed on BSE.

NSDL IPO GMP is +125. This indicates NSDL share price was trading at a premium of ₹125 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of NSDL share price was indicated at ₹925 apiece, which is 15.62% higher than the IPO price of ₹800.

Analyzing the grey market trends from the last 32 sessions, the IPO GMP is showing an upward trend today, indicating a promising listing. The minimum GMP recorded is ₹0.00, whereas the maximum GMP stands at ₹167, as reported by experts at investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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