NSDL IPO GMP, Share Price LIVE: NSDL IPO listing today – Will it be a blockbuster debut for India’s largest and oldest depository – IPO News

NSDL ipo listing, Share Price Live:It’s D-day finally. The much-anticipated NSDL listing will take place in a few hours from now. From months of waiting and expectation to finally the IPO launching and the listing today, it’s been a long journey for India’s oldest depository. As the clock continues to tick and the wait comes to an end, let’s take a look at the fundamentals of NSDL and whether this is a share that you should be considering, especially if you missed the IPO bus.

NSDL IPO Details

The Rs 4,011.60 crore NSDL IPO was subscribed a whopping 41 times. The retail category saw 7.76 subscriptions, while the QIB portion was subscribed over 100 times. The non-institutional buyer segment was subscribed nearly 35 times.

The issue was primarily an offer for sale with NSE and SBI, HDFC Bank, and IDBI Bank being the prominent stakeholders selling shares. The IPO got a record subscribe recommendation from the majority of brokerages and is seen as a value buy.

NSDL: Company fundamentals

The National Securities Depository (NSDL) is a Market Infrastructure Institution (MII) that plays a crucial role in providing a scalable digital framework for India’s financial markets. A leading depository, it is responsible for offering seamless transactions of securities via Demat accounts.

These include a range of offerings from equities to mutual funds and debt instruments. This also includes REITs, InvITs, AIFs, and sovereign gold bond transactions. As of March 31, 2025, 39.45 million active Demat accounts were managed by NSDL via 294 depository participants, with account holders spanning 99.34% of Indian pincodes. They also have presence in 194 countries.

NSDL: Expert Views

What’s the big call by leading brokerages on NSDL? Here are a host of expert views highlighting the valuation advantage and growth potential thatit showcases-

Anand Rathi:The brokerage sees NSDL ‘fairly priced.” They believe that the company aiming to “broaden its range of services, enhance its database management capabilities, and expand the market share of its payments bank division,” are key positives.

They are valuing the company at “P/E of 46.6x to its FY25 earnings, and market cap of Rs 1,60,000 million with a return on net worth of 17.1% post issue of equity shares.”

Geojit: The brokerage house highlighted that as the first and leading depository in the country, NSDL introduced the concept of dematerialization of securities, revolutionizing the securities landscape in India. They believe that at the issue price of Rs 800, “NSDL’s FY25 P/E ratio of 47x appears reasonably priced compared to its peer.” They have a favourable rating considering “its dominant share in AUC, rapid growth in financials, stable revenue stream, healthy return ratios and focus on digital infrastructure expansions ahead.”

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