NSDL IPO GMP, Price Band Highlights: Last chance to apply for NSDL IPO; GMP up 17% on Day 3 – Here’s all you need to know: Today is the third day of NSDL IPO bidding. India’s largest depository, NSDL, is opened its doors to the public markets on July 30 , and investors are watching closely. India’s oldest and largest depository, the Rs 4,011 crore IPO is one of the most anticipated listings this year.
Here are five important things to know before you consider placing a bid.
It is a pure offer for sale (OFS)
This mainboard issue consists entirely of an Offer For Sale of 5.01 crore shares by existing shareholders. Some of the shareholders include IDBI Bank, SBI, NSE, HDFC Bank, and Union Bank. That means NSDL won’t receive any funds. The issue is purely to comply with SEBI’s ownership norms and allow early investors to partially exit.
Price band and lot size
Now coming to the price band of the issue, it is kept between the range of Rs 760 to Rs 800 per share. Investors can bid for a minimum of 18 shares (Rs 14,400 at upper band), and in multiples thereafter. The issue will close on August 1. After the bidding and allotment process, the IPO listing expected on August 6.
LIC, ADIA among anchor investors
Prior to the opening of the issue, NSDL raised Rs 1,201 crore from anchor investors, including LIC, ADIA, SBI MF, and Fidelity Funds. It is also interesting to note that LIC alone picked up nearly Rs 144 crore worth of shares.
Big numbers, Big reach
NSDL manages Rs 510 lakh crore in assets. It serves 4 crore demat accounts, and operates through nearly 66,000 service centres. Moreover, it is also the first and largest depository in India.
Financials
Looking at the financial performance of the company, in FY25, NSDL reported a 24.6% jump in net profit to Rs 343 crore and maintained a 32% EBITDA margin.
NSDL IPO GMP, Price Band, Subscription Status Live Updates: Here's everything you need to know
NSDL IPO GMP Live Updates: Updated GMP
The last recorded grey market premium (GMP) for the NSDL IPO was Rs 118 as of August 1, 2025, at 8:55 PM. Based on the upper end of the price band at Rs 800, the estimated listing price is around Rs 918. This suggests a potential gain of approximately 14.75% per share on listing.
NSDL IPO GMP Live Updates: Updated GMP
The latest GMP (Grey Market Premium) for the NSDL IPO stands at Rs 125 as of August 1, 2025, 08:02 PM. Based on the upper price band of Rs 800, the estimated listing price is Rs 925. This suggests a potential gain of 15.62% per share on listing.
NSDL IPO GMP Live Updates: Objective of IPO
NSDL proposed to utilise the raised net proceeds from the issue to achieve the benefits of listing the equity shares on the BSE.
NSDL IPO GMP Live Updates: Updated GMP
The latest grey market premium (GMP) for the NSDL IPO is Rs 130 as of August 1, 2025, 5:57 PM. Considering the upper price band of Rs 800, the estimated listing price is Rs 930. This translates to an expected gain of Rs 130 or 16.25% per share.
NSDL IPO GMP Live Updates: NSDL set to become India’s second listed depository after CDSL
NSDL will make it the second depository in India to go public, following CDSL’s 2017 listing on the NSE.
NSDL IPO GMP Live Updates: Subscribed 41x on final day
NSDL IPO offers a total of 5,01,45,001 equity shares. Of this, 2,50,29,999 shares (49.92%) are allocated to Qualified Institutional Buyers (QIBs), including 1,50,17,999 shares (29.95%) reserved for Anchor Investors and 1,00,12,000 shares (19.97%) for QIBs excluding anchors. The Non-Institutional Investors (NII) category has been allocated 75,09,001 shares (14.97%), while 1,75,21,001 shares (34.94%) are set aside for Retail Individual Investors (RIIs).
NSDL IPO GMP Live Updates: Subscription update
As of 5:04 PM on August 1, 2025 (Day 3), the NSDL IPO has been subscribed 41.02 times in total. The public issue saw robust demand across categories, with the retail portion subscribed 7.76 times, the Qualified Institutional Buyers (QIB) category oversubscribed by 103.97 times, and the Non-Institutional Investors (NII) category subscribed 34.98 times.
NSDL IPO GMP Live Updates: Important dates
The NSDL IPO, which opened for bidding on July 30, will wrap up its three-day subscription window today, August 1. With investor interest running high, all eyes are now on the allotment date, scheduled for Monday, August 4. Furthermore, NSDL shares are likely to make their stock market debut on Wednesday, August 6.
NSDL IPO GMP Live Updates: Geojit Investments on NSDL IPO
“At the upper price band of Rs 800, NSDL’s FY25 P/E ratio of 47x appears reasonably priced compared to its peer. Considering its dominant share in AUC, rapid growth in financials, stable revenue stream, healthy return ratios and focus on digital infrastructure expansions ahead, we assign a ‘Subscribe’ rating with a long-term investment perspective,” said Geojit Investments in its IPO note.
NSDL IPO GMP Live Updates: Anand Rathi Research in NSDL IPO
“At the upper price band company is valued at a P/E of 46.6x to its FY25 earnings, and the market capitalisation of Rs 16,000 crore, with a Return on net worth of 17.1% post issue of equity shares. We believe that the IPO is fairly priced and recommend a ‘Subscribe’ rating to the IPO,” said Anand Rathi Research in an IPO note.
If there is a shift in investor preferences away from investing and trading in securities to alternative avenues, it may lead to reduced demand for the company’s services, thereby adversely impacting its business, financial condition, and results of operations.
NSDL IPO GMP Live Updates: 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.
NSDL IPO GMP Live Updates: Latest subscription update
On the final day of bidding, the NSDL IPO was subscribed 6.69 times overall so far. Retail investors showed strong participation with their portion booked 4.93 times, while non-institutional investors (NIIs) led the charge with 16.71 times subscription. The Qualified Institutional Buyers (QIB) segment also saw decent demand, with a subscription of 2.23 times.
NSDL IPO GMP Live Updates: Key dates
The NSDL IPO, which opened for bidding on July 30, will wrap up its three-day subscription window today, August 1. With investor interest running high, all eyes are now on the allotment date, scheduled for Monday, August 4. Furthermore, NSDL shares are likely to make their stock market debut on Wednesday, August 6.
The entire ownership of the company lies with public investor. There are no promoters or promoter groups holding any stake. This means that 100% of its shares are held by individual retail investors and institutions like mutual funds, banks, or foreign investors, making it a fully public-owned enterprise with no controlling family or founding group in charge.
NSDL IPO GMP Live Updates: Company overview
Founded in 1996, NSDL was the first depository to introduce electronic holding and settlement of securities in India. It currently manages over 4 crore demat accounts and handles assets worth more than Rs 510 lakh crore. The company operates through a nationwide network of more than 66,000 service centres.
NSDL IPO GMP Live Updates: Subscription status
As of 5:04 PM on July 31, 2025 (Day 2), the NSDL IPO has been subscribed 5.04 times. The retail investor portion has seen a subscription of 4.19 times, the Qualified Institutional Buyers (QIB) category 1.96 times, and the Non-Institutional Investors (NII) segment a robust 11.08 times.
NSDL IPO GMP Live Updates: Updated GMP
As of 7:56 PM on July 31, 2025, NSDL IPO's GMP is Rs 143. With a cap price of Rs 800, the estimated listing price is Rs 943, indicating a possible 17.88% gain per share.
NSDL IPO GMP Live Updates: Minimum investment
The minimum investment for a retail investor is Rs 13,680 for 18 shares. For non-institutional investors, the minimum bid for small NIIs (sNII) is 14 lots or 252 shares, totaling Rs 2,01,600. For big NIIs (bNII), the minimum is 70 lots or 1,260 shares, amounting to Rs 10,08,000.
NSDL IPO GMP Live Updates: Shareholding structure
The shareholding of the company is held by the public shareholders, meaning that 100% of the company’s equity is owned by individuals and institutional investors who are not part of the Promoter or Promoter Group.
NSDL IPO GMP Live Updates: Equity markets industry overview
In FY25, the Indian equity markets reached record highs in both the market capitalisation of listed companies and the benchmark index performance. As of March 2025, India’s market capitalisation stood at Rs 410.90 lakh crore, reflecting a CAGR of 30% over the five-year period from FY20 to FY25.
NSDL IPO GMP Live Updates: Updated GMP
The updated GMP for the NSDL IPO stood at Rs. 143. With the IPO price band capped at Rs. 800, the estimated listing price is approximately Rs. 943. This implies an expected gain of about 17.88% per share over the upper price band.
NSDL IPO GMP Live Updates: Important dates
NSDL IPO opened for subscription on July 30, 2025, and will close on August 1, 2025. The share allotment is expected to be finalized on Monday, August 4, 2025. The IPO is likely to be listed on the BSE, with a tentative listing date set for Wednesday, August 6, 2025.
NSDL IPO GMP Live Updates: Minimum investment
The minimum investment for a retail investor is Rs 13,680 for 18 shares. For non-institutional investors, the minimum bid for small NIIs (sNII) is 14 lots or 252 shares, totaling Rs 2,01,600. For big NIIs (bNII), the minimum is 70 lots or 1,260 shares, amounting to Rs 10,08,000.
NSDL IPO GMP Live Updates: Price band
The price band for the NSDL IPO is set between Rs 760 and Rs 800 per share. Retail investors can apply for a minimum of one lot, which consists of 18 shares, requiring an investment of Rs 13,680. For small non-institutional investors (sNII), the minimum application is 14 lots or 252 shares, totaling Rs 2,01,600
NSDL IPO GMP Live Updates: Subscription update
The NSDL IPO subscribed 4.6 times on Dy 3 so far. Retail investors were bidding 3.94 times their allotted quota, while non-institutional investors (NIIs) saw 9.68 times subscription. Even qualified institutional buyers (QIBs) 1.91 times so far.
NSDL IPO GMP Live Updates: Anand Rathi Research in NSDL IPO
“At the upper price band company is valued at a P/E of 46.6x to its FY25 earnings, and the market capitalisation of Rs 16,000 crore, with a Return on net worth of 17.1% post issue of equity shares. We believe that the IPO is fairly priced and recommend a ‘Subscribe’ rating to the IPO,” said Anand Rathi Research in an IPO note.
NSDL IPO GMP Live Updates: Industry overview
In FY25, the Indian equity markets reached record highs in both the market capitalisation of listed companies and the benchmark index performance. As of March 2025, India’s market capitalisation stood at Rs 410.90 lakh crore, reflecting a CAGR of 30% over the five-year period from FY20 to FY25.
"If there is a shift in investor preferences away from investing and trading in securities to alternative avenues, it may lead to reduced demand for the company’s services, thereby adversely impacting its business, financial condition, and results of operations," said Bajaj Broking, citing one of the risks involved with NSDL.
NSDL IPO GMP Live Updates: NSDL IPO gets subscribed 1.5 times
The IPO of NSDL was subscribed to a total of 1.48 times. The retail participants has booked the issue 1.40 times while the non-institutional investors has subscribed the issue 2.67 times. The Qualified Institutional Investors portion was booked 2.67 times.