NSDL IPO: Dates, Share Sale Structure, Major Shareholders & Listing Info

by Priya Bhatiya

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Posted on July 24, 2025

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NSDL IPO: RHP Filing, Key Dates, Issue Size, and Details

Overview

National Securities Depository Limited (NSDL), India’s pioneering and largest depository, has filed its Red Herring Prospectus (RHP) with SEBI, paving the way for its much-anticipated Initial Public Offering (IPO). The offering will be a 100% offer-for-sale (OFS) by existing shareholders to comply with SEBI’s shareholding regulations.

The Rs 4,000 crore IPO of NSDL will open on July 30 and close on August 1, featuring an offer for sale by key shareholders including NSE and IDBI Bank. The company is targeting a Rs 16,000 crore valuation and has strong financials ahead of listing.

Key IPO Dates

Event	Date
Anchor Investor Bidding	July 29, 2025
IPO Opening Date	July 30, 2025
IPO Closing Date	August 1, 2025
Allotment Finalization	[To be confirmed]*
Listing Deadline	August 14, 2025

* Official allotment and listing dates will be finalized post subscription window.

Issue Size and Structure

• Type: 100% Offer for Sale (OFS)
• Equity Shares Offered: Up to 5.01 crore (50,145,001) equity shares (face value ₹2 each)
• Estimated Issue Size: ₹3,500–4,000 crore
• Tentative Price Band: ₹700–800 per share (to be finalized soon)
• No Fresh Issue: All proceeds go to existing shareholders.

Major Selling Shareholders

Shareholder	Shares Offered (approx.)
IDBI Bank	2.22 crore
National Stock Exchange (NSE)	1.80 crore
State Bank of India (SBI)	40 lakh
HDFC Bank	20 lakh
Union Bank of India	5 lakh
Administrator of SUUTI	34.15 lakh

*This reduction from the initially planned 5.73 crore shares aligns with changing market conditions and regulatory requirements.

Objectives and Regulatory Context

• The IPO allows key shareholders, particularly IDBI Bank and NSE, to reduce their holdings in compliance with SEBI norms for Market Infrastructure Institutions (MIIs), where no single entity can own over 15% stake.
• NSDL targets a valuation of approximately ₹16,000 crore ($1.85 billion equivalent).

Book-Running Lead Managers

• ICICI Securities
• Axis Capital
• HSBC Securities
• IDBI Capital
• Motilal Oswal
• SBI Caps

Additional Information

• NSDL remains India’s largest depository by issuers, active instruments, value of settlements, and assets under custody as of December 2024.
• The IPO is scheduled to list on both BSE and NSE exchanges.
• The offering’s final price band, lot size, and minimum investment will be announced closer to the IPO opening.

Quick Summary Table

Details	Information
IPO Type	Offer for Sale (OFS)
Number of Shares (OFS)	Up to 5.01 crore (50,145,001)
Issue Size (Est.)	₹3,500–₹4,000 crore
Tentative Price Band	₹700–₹800 per share (expected)
IPO Open/Close Dates	July 30, 2025 – August 1, 2025
Anchor Bidding	July 29, 2025
Listing Deadline	August 14, 2025
Promoters	No identifiable promoter
Exchanges	BSE, NSE
Lead Managers	ICICI Securities, Axis, HSBC, etc.
Face Value	₹2 per share

Notes

• Investors are encouraged to review the final RHP and announcements for confirmed details, especially the price band and minimum investment, as these may be updated before launch.
• All timelines and issue sizes are subject to regulatory confirmation and market disclosures.

Ref: NSDL files RHP to launch IPO; check IPO dates, issue size and more

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