NSDL IPO: Strong start with 1.78x subscription on day one. Details and review

NSDL IPO: The National Securities Depository Limited launched its initial public offering (IPO) on July 30. The issue had a strong start, getting fully subscribed on the first day. Investors have until August 1 to apply for the NSDL IPO.

The IPO received a good response from all investor categories, with NIIs leading the way.

NSDL IPO Subscription Status: NSDL IPO was oversubscribed 1.78 times by the end of the first day. NIIs bid 2.83 times, retail investors bid 1.87 times, and employees bid 3.68 times. The QIB category was not fully subscribed, with 0.84 times subscription.

NSDL IPO Details: NSDL's ₹4012 crore offer is entirely an offer for sale. The selling shareholders include IDBI Bank Ltd, NSE Ltd, Union Bank Ltd, State Bank of India Ltd, HDFC Bank Ltd, and Administrator of the Specified Undertaking of the Unit Trust of India. The objective is to list the equity shares on the stock exchanges.

The price band is ₹760 to ₹800 per share. Investors can apply in lots of 18 shares. NSDL shares will list only on the BSE.

NSDL is a SEBI-registered Market Infrastructure Institution providing digital services for India's financial markets. It holds a dominant position in securities custody and manages a significant amount of assets and Demat accounts.

ICICI Securities, HSBC Securities, IDBI Capital, Motilal Oswal, Axis Capital, and SBI Capital Markets are the book-running lead managers.

According to Geojit Financial Services, NSDL's IPO is reasonably priced, and they recommend subscribing for long-term investment. Anand Rathi and Canara Bank Securities also have 'Subscribe' ratings.

NSDL IPO GMP: The grey market premium for NSDL IPO shares is ₹135 today. At the upper price band, the listing is expected at ₹935, a premium of 17%. However, investors should consider company fundamentals and risk appetite.