The much-awaited initial public offering (IPO) of National Securities Depository Limited (NSDL) is set to open for subscription from July 30 to August 1, with the company finally announcing the key details including price band, lot size, and expected valuations.
The issue size is pegged at ₹4,011.60 crore, and the price band has been fixed between ₹760 and ₹800 per share. Investors can bid in lots of 18 shares, translating to a minimum application amount of ₹14,400 for retail participants.
Market interest is already buzzing as the grey market premium (GMP) is indicating strong sentiment — currently trending around ₹165, suggesting a listing gain potential of over 20%.
In terms of valuation, NSDL is coming to market at a price-to-earnings (P/E) ratio of 46.62, which appears relatively attractive compared to its only listed peer, Central Depository Services (India) Ltd (CDSL), trading at a P/E of 66.63.
According to estimates, 9,73,388 applications from retail investors, 9,932 from small HNIs, and 19,865 from big HNIs would be required to fully subscribe their respective categories.
NSDL, India’s oldest and largest depository, plays a pivotal role in the country’s capital market infrastructure. With strong fundamentals, market leadership, and reasonable valuations, the IPO is expected to attract substantial interest across investor segments.
