NSDL IPO Fully Subscribed Within Hours in India

The initial public offering (IPO) of National Securities Depository Ltd (NSDL) was fully subscribed within hours of opening, raising significant investor interest in India's securities market. The Rs 4,011-crore share sale involved an offer-for-sale (OFS) of 5.01 crore shares by major shareholders including the National Stock Exchange of India (NSE), State Bank of India, HDFC Bank, IDBI Bank, and others, with the price band set between Rs 760 and Rs 800 per share. NSDL, holding around 86% of India's securities depository market, is the country's largest depository and will become the second publicly traded depository after Central Depository Services (CDSL). The listing is critical for NSDL's compliance with Securities and Exchange Board of India (Sebi) ownership norms, which require no entity to hold more than 15% stake, prompting NSE and IDBI Bank to reduce their shareholding. The IPO mobilized over Rs 1,201 crore from anchor investors, including marquee institutions like Life Insurance Corporation of India and U.S.-based Capital International. Analysts consider the IPO fairly priced and recommend it for long-term investors due to NSDL's dominant market position and growth prospects amid India's expanding digital and capital markets.