National Securities Depository Limited IPO
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Schedule of National Securities Depository Limited
| Issue open date | 30 Jul 2025 |
| Issue close date | 01 Aug 2025 |
| UPI mandate deadline | 01 Aug 2025 (5 PM) |
| Allotment finalization | 04 Aug 2025 |
| Refund initiation | 05 Aug 2025 |
| Share credit | 05 Aug 2025 |
| Listing date | 06 Aug 2025 |
| Mandate end date | 18 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 01 Sep 2025 |
| Lock-in end date for anchor investors (remaining) | 02 Nov 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About National Securities Depository Limited
National Securities Depository Limited (NSDL) is a SEBI-registered market infrastructure institution (MII) offering a wide range of products and services to the financial and securities markets in India. It pioneered the dematerialization of securities in India and is the largest depository in India in terms of the number of issuers, number of active instruments, market share in demat value of settlement volume, and value of assets held under custody.
The core functions of NSDL are as follows:
- Maintaining allotment and transfer of ownership records
- Facilitating asset servicing
- Transaction and other services.
Additionally, it provides additional services like e-voting services, consolidated account statements (CAS), and non-disposal undertakings (NDU). It has 2 subsidiaries: NSDL Database Management Limited (NDML) and NSDL Payments Bank Limited (NPBL). NDML services like the automation and e-governance project for special economic zones and a national skills registry that seeks to build a credible record of the employees working in the IT / ITeS industry. NPBL operates a payments bank business and focuses on financial inclusion.
Financials of National Securities Depository Limited
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹4011.60 crores |
| Fresh Issue | ₹4011.60 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Carry out the Offer for Sale of up to 50,145,001 Equity Shares of face value of ₹ 2 each aggregating to ₹ [●] million by the Selling Shareholders | |
| Achieve the benefits of listing the Equity Shares on BSE |
Strengths
- India’s first and leading technology-driven depository.
- Strong emphasis on technology-led product innovation.
- Robust IT infrastructure with advanced risk management and cybersecurity.
- Stable revenue base with high recurring income component.
- Wide range of asset classes held in demat accounts.
- Well-diversified business verticals.
Risks
- Dependence on transaction-based revenue sensitive to market trading volumes.
- Vulnerability to IT system disruptions or cybersecurity breaches.
- Reliance on depository participants for business operations and growth.
- Subsidiary NDML subject to multiple regulatory compliance risks.
- Past SEBI observations and risk of future regulatory warnings or deficiencies.
- Pending legal proceedings involving the Company, its Directors, and Subsidiaries.