NSDL Unlisted Shares
NSDL IPO set to open soon: Unlisted share price down 20% from peak.
The Ecoonomic Times
2 min read
NSDL IPO Nears Launch as Unlisted Shares Drop 20%.
Expert Analysis:
IPO Fundraising Goal: NSDL is set to launch its IPO in July, aiming to raise Rs 3,429 crore ($400 million), making it a highly anticipated listing in India’s capital markets.
Regulatory Approval and Progress: NSDL’s IPO plans, approved by Sebi in October 2024, have reached an advanced stage, according to Bloomberg sources.
Revised Share Offer Size: The IPO size was trimmed from 5.73 crore shares to 5.01 crore shares, as per the May 2025 addendum.
Offer for Sale (OFS) Structure: The entire issue is an OFS by IDBI Bank, NSE, and SBI, with no proceeds going to NSDL.
Unlisted Market Pressure: NSDL’s unlisted share price has dropped nearly 20% from Rs 1,275 to around Rs 1,025, as weak sentiment—triggered by HDB Financial’s discounted IPO listing—dampens pre-IPO investor confidence.
Regulatory and Institutional Role: NSDL is a Sebi-registered market infrastructure institution (MII) and a core pillar of India’s capital market operations.
Revenue Source – NSDL Payments Bank: A significant portion of NSDL’s revenue comes from its wholly owned subsidiary, NSDL Payments Bank Ltd, operational since October 2018.
Significance in Capital Markets: As one of India’s two central securities depositories, NSDL’s IPO is a key event for the capital markets, though its performance remains uncertain amid a cooling primary market.
NSDL is set to launch a Rs 3,429 crore IPO via OFS in July, amid falling unlisted share prices and cautious market sentiment following HDB Financial’s discounted listing.
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