Mumbai, July 25
Investors of National Securities Depository Ltd (NSDL) were left surprised on Friday after the company announced its initial public offering (IPO) price band at a steep discount of 22 per cent from its prevailing unlisted market valuation.
The IPO price band at Rs 760–800 per share, looks disheartening to the investors who hold the stock now at its unlisted market price of Rs 1,025 per share. The shares of NSDL which were trading at Rs 1,025 in the unlisted market, have already witnessed a 20 per cent correction from their recent peak of Rs 1,275 seen on June 12, 2025.
NSDL’s IPO will open for subscription on July 30, 2025 and close on August 1, with anchor investor participation beginning on July 29. The issue, which is a pure offer for sale, aims to raise around Rs 4,011 crore.
If the NSDL shares get the cut-off price at the upper end of the IPO price band, the company’s market capitalisation will be around Rs 16,000 crore.
Recently, the Indian IPO market has seen similar steep cuts in price bands from companies such as HDB Financial Services, Tata Technologies, AGS Transact, UTI Asset Management Company, and PB Fintech.