Day 2 of the NSDL IPO Current Events for July 31st: The public offering of NSDL, the biggest and oldest depository in India, is on its second day. One of the year’s most anticipated listings is the Rs 4,011 crore IPO. Only an Offer for Sale (OFS) of 5.01 crore shares by current stakeholders, such as IDBI Bank, SBI, NSE, HDFC Bank, and Union Bank, is included in this mainboard offering.
Since it is an OFS in all aspects, NSDL will not profit from the deal. Meeting SEBI’s ownership rules and giving early investors a partial exit option are the goals. Anchor investors including LIC, ADIA, SBI Mutual Fund, and Fidelity Funds helped NSDL raise Rs 1,201 crore prior to the IPO launch. LIC alone made a noteworthy investment of around Rs 144 crore in the anchor section.
NSDL IPO GMP Live: Based on growth prospects and an alluring pricing, Deven Choksey suggests “Subscribing” to the NSDL IPO.
“We see value in NSDL’s IPO, which is priced at 46.6x TTM P/E—at a discount to its listed peer trading at 64.1x TTM P/E,” said Deven Choksey Research in its IPO note. With its increasing emphasis on creating retail demat accounts by strengthening relationships with discount brokers and cutting-edge depository participants, particularly in underserved areas, we think NSDL is well-positioned for better performance over the next three to five years.
The IPO was rated as “SUBSCRIBE” by the report.
- July 31, 2025· 10:57 IST
NSDL IPO GMP Live: What’s the latest grey market premium for NSDL?
According to data from investorgain.com, the latest grey market premium (GMP) for the NSDL IPO stands at Rs 135 as of July 31, 2025, 08:56 AM. With the IPO price band capped at Rs 800, the estimated listing price is projected to be around Rs 935. This suggests a potential listing gain of approximately 16.88% per share.
- July 31, 2025· 10:32 IST
- Qualified Institutional Buyers (QIBs) – 0.84
- Non Institutional Investors(NIIS) – 3.70
- Retail Individual Investors (RIIs) – 2.30
- Employee Reserved – 4.36
- Total – 2.19
- July 31, 2025· 09:29 IST
NSDL IPO GMP Live: NSDL posts 13.5% CAGR in demat accounts, commands 66% share in settlement value
NSDL’s active demat accounts have grown at a CAGR of 13.5% from FY19 to FY25, reaching 39.5 million. Despite having fewer active accounts compared to its peers, NSDL holds a dominant 66% market share in settlement value, with total assets under its custody standing at Rs 464 lakh crore.
- July 31, 2025· 09:13 IST
“At the upper price band of Rs 800, NSDL’s FY25 P/E ratio of 47x appears reasonably priced compared to its peer. Considering its dominant share in AUC, rapid growth in financials, stable revenue stream, healthy return ratios, and focus on expanding digital infrastructure, we assign a ‘Subscribe’ rating with a long-term investment perspective,” said Geojit Investments in its IPO note.
- July 31, 2025· 08:48 IST
The primary purpose of the IPO is to enable the listing of NSDL shares on a stock exchange and comply with regulatory requirements. As per SEBI norms, market infrastructure institutions must maintain a minimum level of public shareholding—an objective this offer seeks to fulfill. Notably, the proceeds from the IPO will not be used for business expansion or operational needs.
- July 31, 2025· 08:16 IST
Established in 1996, NSDL pioneered the introduction of electronic holding and settlement of securities in India. Today, it manages over 4 crore demat accounts and oversees assets exceeding Rs 510 lakh crore. Its operations are supported by a vast network of more than 66,000 service centres across the country.
- July 31, 2025· 08:00 IST
NSDL IPO GMP Live: NSDL IPO investment slabs: Rs 13,680 for retail, Rs 10 lakh for large NIIs
Retail investors looking to participate in the NSDL IPO need to make a minimum investment of Rs 13,680 for a lot of 18 shares. For small non-institutional investors (sNII), the minimum application size is 14 lots, equating to 252 shares and amounting to Rs 2,01,600. Large non-institutional investors (bNII) must bid for at least 70 lots or 1,260 shares, requiring a minimum investment of Rs 10,08,000.
- July 31, 2025· 07:32 IST
NSDL IPO GMP Live: Take a look at the Day 1 subscription numbers
On Day 1 of bidding, NSDL’s IPO saw an overall subscription of 0.78 times. Among investor categories, the employee segment attracted the most interest, getting subscribed 1.83 times. The Non-Institutional Investor (NII) portion was booked 1.32 times, while the retail category saw a subscription of 0.84 times. The Qualified Institutional Buyer (QIB) segment lagged behind, receiving bids for 0.26 times its allotted quota.
- July 31, 2025· 07:22 IST
NSDL IPO GMP Live: Strong financials backing the offer
In terms of financial performance, NSDL reported a 24.6% rise in net profit to Rs 343 crore in FY25, supported by a healthy EBITDA margin of 32%. The robust financials further strengthen investor confidence in the ongoing public offering.
- July 31, 2025· 07:22 IST
NSDL IPO GMP Live: NSDL’s extensive market presence
NSDL is the first and largest depository in India, currently managing assets worth Rs 510 lakh crore. It serves nearly 4 crore demat account holders through an expansive network of around 66,000 service centres across the country.
- July 31, 2025· 07:21 IST
NSDL IPO GMP Live: Anchor investors pump in Rs 1,201 crore
Ahead of the IPO launch, NSDL raised Rs 1,201 crore through its anchor book. Major investors in this segment include LIC, Abu Dhabi Investment Authority (ADIA), SBI Mutual Fund, and Fidelity Funds. LIC alone picked up shares worth approximately Rs 144 crore, signaling strong institutional confidence.
- July 31, 2025· 07:21 IST
NSDL IPO GMP Live: Entirely an offer for sale, no fresh issue
The IPO comprises solely an Offer for Sale (OFS) of 5.01 crore equity shares by existing shareholders such as IDBI Bank, SBI, NSE, HDFC Bank, and Union Bank. As a result, NSDL will not receive any proceeds from the issue. The primary aim is to comply with SEBI’s ownership norms and facilitate a partial exit for early investors.
- July 31, 2025· 07:21 IST
NSDL IPO GMP Live: NSDL IPO fully subscribed on Day 1
Today is Day 2 of the public issue of NSDL, India’s oldest and largest depository. The Rs 4,011 crore IPO, considered one of the most anticipated listings of the year, witnessed strong demand from retail investors and was fully subscribed on the very first day of bidding.
The much-anticipated NSDL IPO (National Securities Depository Limited) continues to stay in the spotlight as investors eagerly track the NSDL IPO allotment status and rising interest in the grey market. If you’ve applied or are planning to jump in, here’s everything you need to know—from the latest IPO GMP today, subscription insights, and real-time grey market activity to expert analysis.
NSDL IPO Allotment Status: When & Where to Check
The NSDL IPO allotment status can be checked on the official registrar’s website and also via popular IPO tracking portals like:
Applicants simply need to enter their PAN, application number, or DP ID/client ID to know their allotment status.
NSDL IPO GMP Live: What’s the Market Buzz?
As of today, the NSDL IPO GMP (Grey Market Premium) is trending around ₹30–₹35 per share, indicating moderate investor interest. This places the IPO in a promising spot with potential listing gains, though it’s not extremely high like some recent hot issues.
Should You Subscribe to the NSDL IPO?
With NSDL being a trusted name in India’s capital market infrastructure, strong fundamentals back this IPO. Analysts highlight its consistent revenue stream, minimal debt, and monopoly-like status in the securities depository ecosystem.
However, considering the moderate GMP, investors looking for listing gains may need to weigh the risk-reward ratio. Long-term investors could see value in the company’s growth potential.
Final Words
From live NSDL IPO GMP updates to allotment tracking and subscription figures, investor interest in this offering is steadily building. Whether you’re a seasoned IPO player or a cautious newcomer, keeping an eye on real-time GMP and expert feedback is key.
Add Business Connect magazine to your Google News feed
