NSDL IPO Date, Review, Price and Key Information

National Securities Depository IPO is fully book build issue and total IPO size is 5.7 crore shares. The entire share offering is an offer for sale of 5.7 crore shares.

The tentative dates for the NSDL IPO is starting from March 2025 and closing on March 2025. The allotment process is expected to be finalized by [.].

The NSDL IPO is scheduled to list on NSE & BSE, with a listing date of [.]. The price band for the NSDL IPO has not been announced yet.

Registrar for this IPO is Link Intime India and lead managers for National Securities Depository IPO are ICICI Securities, Axis Capital, HSBC Securities And Capital Markets, IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors, SBI Capital Markets.

IPO Schedule

IPO Open Date	-
IPO Close Date	-
IPO Allotment Date	-
Refund Initiation	-
Share credit in Demat	-
Listing Date	-

Key Details

Price Band	TBA
Lot Size	TBA
Face Value	₹2 Per Equity Share
Total Issue Size	57,260,001 Shares
Fresh Issue	-
OFS Issue	57,260,001 Shares
Issue Type	Offer for Sale
Listing At	NSE & BSE

Share Reservation

Investor Category	Shares Offered
QIB	50%
Retail	35%
NII/HNI	15%

About NSDL Company

Overview: We are a leading SEBI-registered Market Infrastructure Institution (MII) in India, pioneering the dematerialization of securities since 1996. As of March 31, 2023, we stand as the largest depository in India regarding issuers, active instruments, settlement volume, and assets under custody (Source: CRISIL Report).

Core Services: Our robust depository framework enables seamless participation in financial markets. We provide secure digital holding of securities via Demat Accounts for equities, preference shares, warrants, funds, debt instruments, and electronic gold receipts. Our centralized system facilitates efficient and cost-effective transfer and settlement.

Subsidiaries & Extended Services: Through our subsidiaries, NDML and NPBL, we offer diverse IT-enabled solutions. NDML focuses on e-governance, KYC solutions, and insurance repository services. NPBL provides digital banking solutions and financial inclusion, including domestic money transfers, savings accounts, and merchant acquisition services.

Key Metrics: As of March 31, 2023, we had over 31.46 million active demat accounts, 40,987 registered issuers, and serviced 99.99% of the value of equity, debt and other securities held by foreign portfolio investors in dematerialized form in India (Source: CRISIL Report). We held assets in custody aggregating to ₹43,060.50 billion for individuals (including NRIs) and Hindu Undivided Family (“ HUFs ”) accounts (Source: CRISIL Report ). Between Financial Years 2021 and Financial Years 2023, our revenue from operations grew from ₹4,675.69 million to ₹10,219.88 million, and our profit after tax grew from ₹1,885.65 million to ₹2,348.11 million.

NSDL Financial Details

Period Ended	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	2093.48	1692.75	1504.01
Revenue	1021.99	761.11	467.57
Profit After Tax	234.81	212.59	188.57
Net Worth	1428.86	1211.62	1019.30
Reserves and Surplus	1388.86	1171.62	979.30
Total Borrowing	475.08	336.31	312.01

₹ In Crore

Key Performance Indicator

Basic EPS (in ₹)	Return on Net Worth (RoNW)	Net Asset Value (NAV)	Debt-Equity Ratio	Return on Equity (ROE)	Return on Capital Employed (ROCE)
11.74	16.43%	71.44	N/A	16.43%	21.8%

Offer Objectives

The IPO primarily aims to facilitate an Offer for Sale (OFS) of up to 5.72 crore Equity Shares by the Selling Shareholders, aggregating to ₹[●] crore, alongside the benefit of listing on the BSE. The company anticipates that listing will enhance its visibility and brand image, while also establishing a public market for its Equity Shares in India.

Utilisation of Offer Proceeds: The company will not receive any proceeds from the IPO. All proceeds, net of Offer-related expenses borne by the Selling Shareholders, will be distributed to the Selling Shareholders proportionally to the number of Offered Shares sold.

Offer-Related Expenses: Estimated IPO expenses amount to approximately ₹[●] crore. These costs encompass listing fees, underwriting fees, payments to Book Running Lead Managers (BRLMs), M-BRLM, legal advisors, the Registrar to the Offer, Escrow Collection Bank, processing fees to SCSBs for ASBA forms, brokerage, selling commission to Syndicate members, CRTAs, CDPs, fees to Sponsor Banks for UPI Bids, printing, advertising, marketing, and auditor's fees. These expenses will be borne by the Selling Shareholders proportionally to their share of the Offered Shares.

Basis for Offer Price: The Offer Price is determined by the company and the Selling Shareholders, in consultation with BRLMs, based on market demand through a Book Building Process, considering both qualitative and quantitative factors. Qualitative factors include their position as India's first and leading depository with technology-driven businesses, a strong focus on product innovation, robust IT infrastructure, and a stable revenue base. Quantitative factors include Basic and Diluted Earnings per Share (EPS), Price to Earnings (P/E) ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV). The company's EPS for Fiscal 2023 was ₹11.74. The peer P/E ratio is at 45.13, RoNW for Fiscal 2023 was 16.43%, and NAV as of March 31, 2023, was ₹71.44.