National Securities Depository Ltd. IPO: All you Need to Know

India’s population stands at over 1.44 billion as of CY24, with nearly 187 million households, and is expected to reach 1.5 billion by 2031. The number of households is projected to grow from 245 million in 2021 to approximately 385 million by 2031, at a CAGR of 4.6% between FY21 and FY31. Parallel to this demographic expansion, the Indian capital market has emerged as one of the most dynamic and high-growth organised markets globally. Between FY11 and FY25, the market capitalization of the National Stock Exchange (NSE) grew at a CAGR of 13.8%, while the NIFTY 50 index registered a CAGR of 10.5%, with the BSE Sensex following a similar trajectory.

Particulars	Details
IPO Open Date	July 30, 2025
IPO Close Date	August 01, 2025
Price Band	₹760 to ₹800 per share
Lot Size	18 Shares
Issue Size	₹40,116 mln
Listing At	BSE, NSE
Tentative Listing Date	[To be announced]

The number of companies traded on the NSE rose from 856 in FY05 to 3,784 in FY25. Capital raised through public and rights issues increased from ₹919.5 billion in FY19 to ₹2,181.2 billion in FY25, supported by robust domestic and global investor sentiment, with year-on-year growth of 113% in FY25 and 42% in FY24. As India advances toward becoming a global economic powerhouse, the capital market continues to play a critical role in driving economic development and financial inclusion.

NSDL is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume, and value of assets held under custody. Through its subsidiaries, NDML and NPBL, NSDL offers a range of IT-enabled solutions across multiple verticals such as e-governance, payment solutions, collaborative industry solutions, regulatory platforms, KYC solutions, insurance repository services, and digital banking solutions.

As of March 31, 2025, NSDL has over 39.45 million active demat accounts held with 294 registered depository participants, with account holders located in more than 99.34% of pin codes in India and 194 countries globally. During FY25, NSDL records a net increase of 33,758 issuers, reaching a total of 79,773 issuers registered, compared to 46,015 as of March 31, 2024. The average number of demat accounts opened per day during FY25 stands at 15,320.

NSDL has an established track record of growth in revenue and profits. Between FY23 and FY25, revenue from operations grows from ₹10,219.88 million to ₹14,201.46 million, at a CAGR of 18.23%. During the same period, profit after tax increases from ₹2,348.10 million to ₹3,431.24 million, registering a CAGR of 20.85%. EBITDA also grows from ₹3,286.04 million in FY23 to ₹4,929.43 million in FY25, reflecting a CAGR of 22.42%.

Objects of the issue:

1. OFS issue- ₹ 40116 million

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