NSDL Shares Make Strong Debut List With 10% Premium On BSE

NSDL IPO Listing Gain: NSDL shares listed on the bourses on August 6 with strong gains. NSDL shares listed on the BSE at Rs 880 apiece on the listing date, August 6. Shares of the depository listed with a premium of 10 per cent on the BSE compared to the upper end of NSDL IPO’s price band of Rs 800 apiece.  The stock soon surged 2.27 per cent over the listing price to trade at an early high of Rs 900 apiece on the BSE.

Retail investors who were allotted at least one lot or 18 shares of NSDL would have made a minimum profit of  Rs 1,440 (Rs 15,840 - Rs 800 x 18) after the stock started trading on the exchange. Soon after NSDL shares began to trade, 86.74 lakh shares of the company changed hands on the BSE. NSDL’s total market capitalization stood at Rs 17,980 crore.

NSDL IPO: Details

NSDL Ltd raised Rs 4,011.6 crore through its public issue, the issue consisted completely of an offer-for-sale of 5.01 crore shares.  NSDL IPO price band was set between Rs 760 to Rs 800 per share.

The minimum lot size for application for retail investors was fixed at 1 lot consisting of 18 shares, which aggregated to an investment of Rs 14,400. NSDL IPO was booked 41.01 times during the three-day bidding window which opened on July 30 and closed on August 1. Investors across categories placed bids for over 1440.4 million shares compared to the 35.12 million shares offered for subscription.

The non-institutional investors (NII) quota of NSDL IPO was booked 34.98 times. The NSDL IPO was booked 7.73 times in the retail individual investor category. The mainboard issue was booked 103.97 times in the Qualified Institutional Buyers (QIB) category. NSDL IPO was booked 15.42 times in the employee’s category.

NSDL mentioned in its Red Herring Prospectus that the company will not get any proceeds from the public issue. However the depository seeks to gain the benefits of listing its shares on the BSE.

NSDL is a Market Infrastructure Institution (MII) registered with the Securities Exchange Board of India. NSDL was established in 1996 and holds a significant number of securities held in dematerialized form in the Indian capital market. The depository seeks to ensure the safety and soundness of Indian marketplaces by coming up with settlement solutions which increase efficiency, reduce risk and decrease costs.

The stock traded at Rs 913.00 apiece on the BSE up by 3.75 per cent at the time of writing.