IPO 2025 · Market infrastructure
NSDL (National Securities Depository) IPO: issue price, listing date and listing gain
Priced at 800 rupees, listed about 10% above its 800 rupee issue price on 6 August 2025. The verified listing record and the desk read.
The listing record
NSDL (National Securities Depository) priced its IPO at 800 rupees per share and listed about 10% above its 800 rupee issue price on 6 August 2025, raising about 4,011.6 crore rupees. BazaarBaazi scores the debut at an IPO Scorecard of 58/100 (a orderly listing). It is editorial framing, not investment advice.
BazaarBaaziSource & method
The offer
The National Securities Depository Limited raised 4,011.60 crore rupees at an issue price of 800 rupees per share, listing on BSE on 6 August 2025. NSDL holds the electronic securities accounts of most Indian investors: it is the older of India's two central depositories and sits at the core of every stock settlement in the country.
The IPO listed only on the BSE. The NSE, one of NSDL's promoters, could not be the listing venue for a competitor entity, making this a rare BSE-only listing. That structural quirk did not dent demand: the IPO was subscribed 41 times, with qualified institutional buyers alone subscribing over 100 times their reserved portion.
NSDL earns fees on every account opened and every transaction settled, a model that scales with the structural growth of Indian equity participation. As the demat account count in India crossed 100 million, the listing captured a franchise that benefits directly from more Indians investing.
The listing and the read
NSDL listed at 880 rupees on the BSE on 6 August 2025, a 10 percent premium over the 800 rupee issue price, and continued to gain through the debut session. The demand was underpinned by the irreplaceable nature of the business: a settlement infrastructure monopoly is the kind of regulated utility investors pay a premium to own.
BazaarBaazi reads a market-infrastructure listing as a regulated utility with a structural growth tailwind. NSDL does not manufacture returns the way a growth company does. It earns fees on a transaction count that rises with market participation, and that participation is in a multi-decade growth cycle in India. The listing premium was for the franchise, not for a near-term earnings catalyst. Editorial framing, not investment advice.
The verified record
The hard, cross-checked facts of the listing.
Listing-day figures are verified against public IPO records. Post-listing prices move daily and are not shown here; this page is the durable record of how NSDL (National Securities Depository) came to market, not a live quote.
FAQ4 reader questions · AEO-eligible
Common questions on the NSDL (National Securities Depository) IPO.
What was the NSDL IPO issue price?
NSDL priced its IPO at 800 rupees per share and raised 4,011.60 crore rupees, listing on BSE on 6 August 2025.
Why did NSDL list only on the BSE?
The NSE is one of NSDL's promoters, which made the NSE an unsuitable listing venue for a company in which it has a stake. NSDL listed exclusively on the BSE as a result.
How did NSDL list?
NSDL listed at 880 rupees on the BSE on 6 August 2025, a 10 percent premium over the 800 rupee issue price, and the stock continued to gain through the debut session.
What does NSDL actually do?
NSDL is India's older central securities depository. It holds electronic records of stock ownership for most Indian investors and processes every settlement on the exchange. It earns a fee on account openings and transactions, scaling with the growth of Indian market participation.
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