NSDL IPO: Latest GMP, Subscription Status, Key Details, and Dates Unveiled - All You Need to Know

The much-awaited initial public offering (IPO) of the National Securities Depository Ltd (NSDL) is going to be open for subscription on Wednesday, July 30, 2025. NSDL is also India's largest depository.

NSDL Performance FY25

In the financial year 2024-25 (FY25), CDSL reported a consolidated net profit of Rs 526 crore, which highlighted a 25% year-on-year rise, while its revenue increased by 32% to Rs 1,199 crore.

NSD also recorded a net profit of Rs 343.12 crore for the same period, up 24.5% from Rs 275.45 crore in FY24, with revenue rising 12.4% YoY to Rs 1,535.19 crore.

Additionally, CDSL is continuing to demonstrate strong profitability, with margins of approximately 48%, significantly higher that NSDL's 22%. This is because of CDSL’s more efficient operating model and greater scalability driven by retail investor participation.

NSDL IPO: Key Details

NSDL has launched an IPO worth Rs 4,011 crore which is now open for subscription, is entirely an offer for sale (OFS). Bidders can apply in lots, and one of the initial offer comprises 18 company shares. The likely date for the finalisation of share allocation is August 2, 2025. MUG Intime India Private Ltd (Link Intime) is the registrar of the public issue. ICICI Securities, Axis Capital, HSBC Services, IDBI Capital Market, Motilal Oswal, and SBI Capital are the book running lead managers for the issue.
The public issue is proposed for listing on the BSE and the NSE, and the most likely date for share listing is 5 August 2025.

NSDL IPO: Price Band

The depository company has declared a price band of Rs 760 to Rs 800 per equity share.

NSDL IPO: Check Latest GMP

As the NSDL IPO subscription begins, its shares are making a buzz in the grey market, commanding a decent premium in the unlisted market or GMP.

The NSDL IPO's latest GMP is Rs 126, at 10:00 am on July 30, 2025. With the price band of Rs 800, NSDL IPO's estimated listing price is Rs 926 (cap price + today's GMP). The expected percentage gain/loss per share is 15.75%.

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