NSDL IPO Makes a Stunning Market Entry

National Securities Depository Ltd (NSDL) shares made an impressive debut on Wednesday, listing at a 15% premium over the issue price of Rs 800. The stock opened at Rs 880 on the BSE, quickly climbing to Rs 920, and pegging the company's market valuation at Rs 18,249 crore.

Overwhelming Response to the IPO

The Rs 4,011 crore Initial Public Offering (IPO) of NSDL was met with overwhelming enthusiasm, receiving 41 times subscription on the closing day of bidding. Prior to the public offering, NSDL secured over Rs 1,201 crore from anchor investors, showcasing strong investor confidence.

A Landmark Listing Amid Market Fluctuations

Despite the broader market experiencing a downturn, with the BSE Sensex dropping by 102.09 points, NSDL's successful listing highlights its robust market position. This event marks NSDL as the second depository in India to go public, following CDSL's listing in 2017.

Offer For Sale: A Strategic Move

The IPO comprised solely of an Offer For Sale (OFS) of 5.01 crore shares by prominent financial institutions, including the National Stock Exchange of India (NSE) and State Bank of India (SBI). Notably, the OFS structure means NSDL will not directly benefit from the proceeds of the public issue.