The NSDL IPO allotment has been finalised, paving the way for its listing on Wednesday, August 6. Investors who applied for shares in the ₹4,011‑crore issue can now check whether they received an allotment through the BSE website or the registrar MUFG Intime India.
Market activity indicates strong investor interest, with NSDL’s shares trading at a 15% premium in the grey market. This suggests a likely listing price of around ₹925 per share against the upper price band of ₹800.
Record Subscription Underscores Market Confidence
The National Securities Depository Limited’s (NSDL) IPO, which closed on Friday, attracted 41.01 times subscription, receiving 1,440.4 million bids for 35.1 million shares on offer, according to data from the National Stock Exchange (NSE).
Qualified institutional buyers subscribed 93.92 times their quota, non‑institutional investors subscribed 54.35 times, and retail investors subscribed 8.85 times. The figures point to strong confidence in NSDL’s fundamentals, reflecting its critical role in India’s securities infrastructure and expanding investor base.
Market analysts noted that this is one of the most sought‑after IPOs of the year, driven by stable revenue, regulatory backing from the Securities and Exchange Board of India (SEBI), and the company’s position as a pioneer in dematerialisation and settlement services in India.
NSDL to Become Second Listed Depository in India
With the upcoming listing, NSDL will join Central Depository Services Ltd (CSDL) as the only two publicly traded depositories in India. CSDL was listed in 2017 and has since recorded steady growth in investor participation.
Founded in 1996, NSDL was the first depository in India, responsible for transforming paper‑based share certificates into electronic holdings. It now serves millions of investors and works with intermediaries including brokers, custodians, and clearing corporations. Its network spans across multiple market segments including equities, debt instruments, and mutual funds.
How to Check NSDL IPO Allotment Status
Investors who want to confirm their allotment can follow these steps:
On the BSE Website:
- Visit the NSDL IPO allotment page on BSE.
- Choose ‘Equity’ as the issue type and select ‘NSDL Ltd’.
- Enter the application number or PAN and click ‘Search’ to view the allotment.
On MUFG Intime India Website:
- Go to MUFG Intime India.
- Select ‘NSDL Ltd’ from the dropdown list of companies.
- Choose a verification method such as PAN, Application Number, DP/Client ID, or Bank Account Number with IFSC.
- Enter the details and click ‘Submit’ to view allotment status.
Grey Market Premium Indicates Robust Demand
The grey market premium (GMP) for NSDL shares stood at ₹124 per share as of Tuesday, suggesting an estimated listing price of ₹925, or 15.5% above issue price. Analysts say the strong GMP indicates high demand, though actual listing price will depend on broader market sentiment on the day of debut.
The IPO was managed by ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital Markets, Motilal Oswal Investment Advisors, and SBI Capital Markets as book‑running lead managers.
Significance of the Listing
The listing is seen as a milestone for India’s capital market infrastructure. As trading volumes increase and more retail investors enter the market, depositories like NSDL are expected to play an even larger role in managing securities efficiently and securely.
With a strong subscription response and positive grey market cues, market participants are watching the listing closely to gauge investor appetite for infrastructure‑driven financial services companies in the current market cycle.
