After the three-day subscription window, the allotment status of NSDL IPO was finalised on August 4, setting the stage for the stock’s debut on the bourses.
Let’s take a look at what is now next for applicants and what to expect from the grey market.
NSDL IPO recap
A Rs 4,011 crore initial public offering, NSDL ran from July 30 to August 1. Backed entirely by an offer for sale (OFS) of 5.01 crore equity shares, the issue was price of the issue was set at 800 per share.
By the time bidding closed on August 1, the issue was subscribed over 41 times. The Qualified Institutional Buyers (QIBs) led the rush with over 103 times subscription. In a similar note, high-net-worth individuals (HNIs) booked nearly 35 times, and retail investors subscribed close to 8 times.
When will shares be allotted and listed?
the NSDL IPO allotment was finalised on August 4. If you are among the lucky ones, your allotted shares are likely to reflect in your demat account by August 5. The IPO is slated to list on the Bombay Stock Exchange (BSE) on August 6. Those who don’t get the allotment should see their funds unblocked or refunded on the same day, August 5.
How to check allotment status
The allotment status will be made available on the websites of the BSE and the IPO registrar – MUFG Intime India (formerly known as Link Intime).
GMP update
Prior the official listing of the issue, the share price of NSDL in the grey market premium (GMP) was trading around Rs 120 per share. This indicates a potential listing price of Rs 920. This translates to a 15% higher than the issue price. However, it is important to note that GMPs are unofficial and can be volatile.
NSDL IPO Allotment Status, GMP, Steps to check Status Online Highlights
NSDL IPO Allotment Status Live: Updated GMP
As of August 5, 2025 (09:37 PM), the grey market premium (GMP) for the NSDL IPO stands at Rs 125. With a price band of Rs 800, the estimated listing price is Rs 925. This indicates a potential gain of approximately 15.62% per share on listing.
NSDL IPO Allotment Status Live: Important dates
The bidding for the NSDL IPO opened on July 30, 2025, and closed on August 1, 2025. The allotment was finalized on Monday, August 4, 2025. NSDL is set to list on the BSE, with a tentative listing date scheduled for Wednesday, August 6, 2025.
NSDL IPO Allotment Status Live: Updated GMP
As of August 5, 2025 (08:36 PM), the grey market premium (GMP) for the NSDL IPO stands at Rs 127. With a price band of Rs 800, the estimated listing price is Rs 927. This suggests a potential gain of approximately 15.88% per share on listing
NSDL IPO Allotment Status Live: 5.01 crore shares offered; QIBs get 49.92%, anchor investors 29.95%
NSDL IPO offers a total of 5,01,45,001 shares. Of these, 2,50,29,999 shares (49.92%) are allocated to Qualified Institutional Buyers (QIBs), including 1,00,12,000 shares (19.97%) for QIBs excluding anchor investors. Non-Institutional Investors (NIIs) are allotted 75,09,001 shares (14.97%), Retail Individual Investors (RIIs) get 1,75,21,001 shares (34.94%), and 1,50,17,999 shares (29.95%) are reserved for anchor investors.
NSDL IPO Allotment Status Live: About NSDL
Incorporated in 2012, National Securities Depository Limited (NSDL) is a SEBI-registered Market Infrastructure Institution (MII) that serves as a securities depository in India. It maintains electronic records of security allotments and ownership transfers and facilitates services such as dematerialisation, trade settlement, off-market transfers, pledging, and corporate actions. NSDL also provides asset servicing for dematerialised securities and offers additional services like e-voting, consolidated account statements (CAS), and non-disposal undertakings (NDU).
NSDL IPO Allotment Status Live: Updated GMP
NSDL IPO's latest grey market premium (GMP) is Rs 130, last updated on August 5, 2025, at 5:28 PM. With a price band of Rs 800, the estimated listing price is Rs 930. This suggests an expected gain of 16.25% per share.
NSDL IPO Allotment Status Live: IPO subscription status
The IPO witnessed strong demand across all investor segments, with an overall oversubscription of 41 times. Qualified Institutional Buyers (QIBs) led the surge, subscribing nearly 104 times, followed by Non-Institutional Investors (NIIs) at 35 times, while the retail portion was subscribed almost 8 times.
NSDL IPO Allotment Status Live: Mehta Equities on NSDL ahead of listing
"Given the strong subscription levels and current market sentiment, we expect a decent listing gain in the range of 12–15% or higher, depending on listing day mood. However, beyond the short-term listing pop, NSDL represents a compelling long-term proxy play on the growth of institutional participation in Indian capital markets. Therefore, we recommend allotted investors to 'Hold' it for long-term perspective while non-allotted investors can WAIT & WATCH for potential post-listing dip opportunity to enter,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
NSDL IPO Allotment Status Live: Analyst on NSDL ahead of listing
The robust response is well justified from a long-term investment standpoint, given NSDL’s dominant position in the Indian depository ecosystem, said Prashanth Tapse, Senior Vice President of Research at Mehta Equities. NSDL stands out as the strongest player in the institutional segment, with a commanding share in custodial and depository services for mutual funds, insurance companies, banks, and foreign portfolio investors (FPIs), added Tapse.
NSDL IPO Allotment Status Live: Mehta Equities on NSDL IPO
"Notably, NSDL continues to lead in value-based transactions and institutional account holdings, underpinned by deep-rooted industry trust and robust technological infrastructure, making it a key pillar of India’s capital market framework. Alongside CDSL, it forms a near-duopoly, with high entry barriers for new competitors in the segment," said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
NSDL IPO Allotment Status Live: Financial health of NSDL
Financially, its net worth increased from Rs 1,428 crore in FY23 to Rs 2,005 crore in FY25. For the latest fiscal year, the company posted a net profit of Rs 343 crore and remains debt-free.
NSDL IPO Allotment Status Live: No fresh proceeds for NSDL
As this is a complete OFS, NSDL won’t receive any fresh capital from the IPO. The purpose of the issue was to comply with SEBI's norms on ownership diversification and to offer an exit route to current institutional investors.
NSDL IPO Allotment Status Live: Subscription numbers
The IPO saw significant demand from all investor categories. Overall, it was oversubscribed 41 times. QIBs led the rush with nearly 104x subscription, NIIs followed at 35x, while the retail category was booked nearly 8 times.
NSDL IPO Allotment Status Live: Who is selling the shares?
The shares on offer were offloaded by major institutional shareholders such as IDBI Bank, NSE, HDFC Bank, SBI, and Union Bank of India. NSDL does not have an individual promoter and is managed by a board of professionals.
NSDL IPO Allotment Status Live: Dominant market position
NSDL remains a core pillar of India’s capital markets. As of December 2024, it had over 38.77 million active demat accounts and managed assets under custody worth Rs 77,814 billion, making it India’s largest depository.
NSDL IPO Allotment Status Live: Registrar and lead book runners
MUFG Intime India (also known as Link Intime) is handling registrar duties. The IPO was backed by several major lead managers, including ICICI Securities, Axis Capital, HSBC Securities, Motilal Oswal, SBI Capital, and IDBI Capital.
NSDL IPO Allotment Status Live: Price band and employee discount
The shares were priced between Rs 760 and Rs 800, with a face value of Rs 2 per share. Employees applying under the reserved category got a discount of Rs 76 per share.
NSDL IPO Allotment Status Live: Key dates and listing timeline
The IPO opened on July 30, and closed on August 1. Allotment was finalised by August 4, refunds processed on August 5, and the shares are scheduled to be listed on August 6 on the BSE.
NSDL IPO Allotment Status Live: Structure and size
The NSDL IPO is entirely an Offer for Sale (OFS), with no fresh issue involved. A total of 5.01 crore shares were up for grabs, valuing the issue at around Rs 4,011.60 crore. Since it is a pure OFS, all the money raised goes to the existing shareholders, not the company.
NSDL IPO Allotment Status Live: Who is selling in NSDL IPO
NSDL’s IPO is a pure offer-for-sale (OFS), meaning the company itself won’t pocket any of the funds raised. Instead, 5.01 crore shares will be offloaded by existing shareholders including big names like the National Stock Exchange (NSE), SBI, HDFC Bank, IDBI Bank, Union Bank of India, and SUUTI (the government’s investment arm). Since there is no fresh issue of shares, all proceeds from the IPO will go directly to these selling shareholders, not to NSDL.
NSDL IPO Allotment Status Live: Bajaj Broking on NSDL IPO
“NSDL is engaged as a pioneer in depository services in India and is an ice breaker for the demat process. The company is expanding its horizon with more value-added services and options. On the financial performance front, for the last three fiscals, the company has (on a basis) posted a total income/net profit, of Rs. 1099.81 cr. consolidated/ Rs. 234.81 cr. (FY23), Rs. 1365.71 cr. / Rs. 275.45 cr. (FY24), Rs. 1535.19 cr. / Rs. 343.12 cr. (FY25). For the last three fiscals, the compa has posted an average EPS of Rs. 15.13 and an average RoNW of 16.75%. If we attribute FY25 annualized earnings then the asking price is at a P/E of 46.62. Based on FY24 earnings, the P/E stands at 58.10,” said Bajaj Broking in the IPO note.
NSDL IPO Allotment Status Live: How to check allotment status via BSE?
Here’s how you can check the allotment status via MUFG Intime (Registrar):
- Select ‘Equity’ as the issue type after opening the BSE website
- Choose NSDL IPO from the list
- Enter your application number and PAN details
- Verify the captcha and click Search
The shares are likely to be credited to your Demat account by August 6 or 7 if you receive allotment. You will be able to view them in your broker app or NSDL portal. Your money will be automatically unblocked or refunded in the next 2-3 working days if you do not get the allotment.
NSDL IPO Allotment Status Live: How to check allotment status?
Here's how you can check the allotment status via MUFG Intime (Registrar):
NSDL IPO Allotment Status Live: NSDL won't receive any proceeds from IPO
The depository's public issue solely consists of an offer for sale (OFS) component of 5.01 crore shares, and those selling shares under this are National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and Administrator of Specified Undertaking of the Unit Trust of India (SUUTI). Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO.
NSDL IPO Allotment Status Live: What is the current GMP?
According to the latest grey market estimates, NSDL shares are trading at a premium of Rs 126 over the issue price. This suggests a likely listing price of around Rs 926 per share, nearly 15% higher than the IPO’s upper price band of Rs 800.
It is important to note that this is not the actual listing price and may fluctuate based on market sentiment. The IPO has a price band of Rs 760-800 per share.
NSDL IPO Allotment Status Live: Subscribed 41.01x, over Rs 1,201 crore mobilised from anchor investors
The Rs 4,011-crore initial share sale got bids for 1,44,03,92,004 shares against 3,51,27,002 shares on offer, translating into 41.01 times subscription. Qualified Institutional Buyers (QIBs) garnered 103.97 times subscription. The category for non-institutional investors received 34.98 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 7.73 times.
National Securities Depository Ltd mobilised over Rs 1,201 crore from anchor investors on Tuesday.
NSDL IPO Allotment Status Live: Industry triggers
India is expected to witness an increase in financial savings led by stronger growth in nominal GDP per capita and its large young population, with a median age of 28 in 2020. Further, gross domestic national savings rate (as % of GDP) stood at 29.2% in FY23, with a growing preference among households to allocate savings to higher-yielding instruments like equities, mutual funds, and small savings over deposits.
NSDL IPO Allotment Status Live: Revenue and net profit growth in CAGR
NSDL's revenue and net profit grew consistently at 17.9% and 20.9% CAGR over FY23-25, led by continuous increase inthe number of active demat accounts and higher trading activity across its accounts, along with diversification into other ancillary investor services.
NSDL IPO Allotment Status Live: Objective of the issue
NSDL proposed to utilise the raised net proceeds from the issue to achieve the benefits of listing the equity shares on the BSE.