Summary of this article
NSDL IPO's bidding window is now open and will remain open till August 1
NSDL IPO GMP is around Rs 126 indicating robust listing gains of 16 per cent
Retail investors can apply for NSDL IPO by bidding for a minimum of 18 shares and investing Rs 14,400
NSDL IPO: NSDL IPO (National Securities Depository Ltd) is now open for subscription. The three-day bidding window of the mainboard issue is scheduled to close on August 1. Here’s a look at the Grey Market Premium (GMP), important dates, offer size, price band and other key details of the public issue:
NSDL IPO GMP Today
On July 30, the GMP for NSDL shares remained between Rs 126 and Rs 127 per share as per various websites which track grey market activity of IPO-bound stocks. In the last 15 sessions, the GMP for NSDL IPO has ranged between Rs 0 and Rs 167. At the upper limit of the price band for NSDL IPO of Rs 800 the estimated listing pricing basis of the Grey Market Premium (GMP) is Rs 927(Rs 800 + Rs 127). At the estimated listing price, shares of NSDL are commanding a premium of 15.87 per cent over the upper end of the price band.
GMP is the additional amount of money which primary market investors are willing to pay for unlisted shares of a company. GMP is one of the many factors which can potentially influence how a stock will list on the exchanges. However, it is not the only factor which can determine how a stock will list on the exchanges and investors should look at factors other than the GMP before applying for a public issue.
NSDL IPO Offer Size
NSDL aims to raise Rs 4,011.6 crore through its public issue. NSDL IPO has no fresh issuance of shares and only consists of an offer-for-sale component of 5.01 crore shares. Existing shareholders of the company, IDBI Bank Ltd, National Stock Exchange Ltd and Union Bank of India, will reduce their stake in NSDL by taking part in the OFS.
NSDL IPO Reservation
NSDL IPO includes a reservation of 50 per cent of the net offer size for Qualified Institutional Buyers (QIBs), 35 per cent of the offer size has been set aside for retail investors and the remaining 15 per cent of the net offer size has been reserved for Non-Institutional Investors (NII).
NSDL IPO: Subscription On Day 1
In the early hours of the first day of bidding NSDL IPO was subscribed 50 per cent across categories, receiving bids for 1,75,34,898 shares compared to the 3,51,27,002 shares offered for subscription. So far the employees of the company have booked the issue 1.07 times, the issue has been booked 66 per cent in the retail category, 76 per cent in the NII quota and 2 per cent in the Qualified Institutional Buyer category.
NSDL IPO Price Band
The price band for the depository’s public issue has been set between Rs 760 to Rs 800 per share. The minimum lot size to apply for NSDL IPO for retail investors has been set at 1 lot consisting of 18 shares aggregating to a minimum investment of Rs 14,400.
NSDL IPO Key Dates
NSDL IPO will remain open for bidding from July 30 to August 1. NSDL IPO basis of allotment will be decided on August 4. Once the share allotment is complete, refunds will be issued for unsuccessful bidders on August 5, on the same day successful bidders will receive shares of NSDL Ltd in their demat accounts. NSDL shares are slated to list on the BSE exchange. The listing of NSDL shares is likely to take place on August 6.
NSDL IPO: Objective
While NSDL itself will not get the proceeds of the public issue, the existing shareholders of the company, such as IDBI Bank, NSE and Union Bank of India, will get the proceeds from the public issue. However, the depository mentioned in the RHP that it expects to benefit from listing its shares on the BSE and complying with Sebi norms related to ownership regulations for market infrastructure institutions (MIIs).
