National Securities Depository Limited IPO
National Securities Depository Limited IPO
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The Initial Public Offering of National Securities Depository Limited's culminated in its successful listing on 06-08-2025 at the NSE, BSE trading platform. The company secured 5,01,45,001 Shares through this capital market exercise, withTBD allocated to new capital formation and ₹4011.60 Cr to existing shareholder liquidity.
Investors participated within the price parameters of ₹760 to ₹800, with minimum investment requirements of 18 shares. The subscription period from 30-07-2025 to 01-08-2025 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on 04-08-2025. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
National Securities IPO About Company
CDSL, established in 2012, is one of India's leading depositories with over 3.14 crore active demat accounts and a network of 283 registered depository participants. It supports nearly 41,000 registered companies and adds an average of over 15,000 new demat accounts daily as of FY23. Its services reach across more than 99% of Indian PIN codes and cater to clients in 186 countries. Holding around 70% market share in demat accounts as of 2024, CDSL is growing rapidly due to increased retail participation and offers digital services like e-DIS, e-voting, and paperless KYC. NSDL, India’s first depository founded in 1996, focuses more on institutional and large investors. It is promoted by entities like IDBI and NSE and is a dominant player in segments such as government securities, corporate bonds, and institutional holdings. NSDL also provides services like ASBA for IPOs and manages the Tax Information Network (TIN). Both CDSL and NSDL offer a range of common services including electronic maintenance of shares and securities, conversion between physical and electronic formats, trade settlements on a T+1 basis, pledging of securities, managing corporate actions like dividends and splits, enabling electronic voting for shareholders, and ensuring compliance with regulatory requirements. NSDL also operates through subsidiaries such as NDML, which provides services like e-governance, KYC, insurance repository, and skill registry systems. Another subsidiary, NSDL Payments Bank Ltd, functions as a digital bank offering remittance services, Aadhaar-enabled payments, UPI, point-of-sale operations, and distribution of insurance and mutual fund products.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
National Securities IPO Strength Factors
- First-Mover and Market Leader: India’s first depository with a strong and established presence in the market.
- Innovation Through Technology: Focused on creating advanced, tech-driven products and services to stay ahead in the industry.
- Strong and Secure Infrastructure: Backed by reliable IT systems, robust risk management, and strong cyber-security measures to ensure safe and smooth operations.
National Securities IPO Risk Factors
- Changing Investor Behavior May Impact Demand: If investors lose interest in securities trading, it could reduce the need for NSDL’s core services.
- Dependence on Innovation for Growth: Not keeping up with new technology or failing to launch modern services could affect the company’s growth and competitive edge.
- Revenue Tied to Market Volatility: Since income depends largely on trading volumes, any dip in overall market activity can directly affect earnings.
National Securities IPO Lead Manager(s)
- Axis Capital Limited
- Hsbc Securities & Capital Markets Private Limited
- ICICI Securities Limited
- IDBI Capital Market Services Limited
- Motilal Oswal Investment Advisors Limited
National Securities IPO Promoter(s)
- IDBI
- NSE
National Securities IPO FAQs
National Securities Depository Limited IPO subscribed 41.01 times. The public issue subscribed 7.73 times in the retail category,103.97times in QIB, and 37.73 times in the HNI (10+) category byNovember 21, 2025 12:26:33 PM (Day 21).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
National Securities IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
National Securities IPO FAQs
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A category of eligible shareholders or other investors who have a reserved quota in the IPO.
If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .