NSDL's Rs 4,011-Cr IPO Subscribed 41 Times on Final Day of Offer

The initial public offer of National Securities Depository Ltd (NSDL) received 41 times subscription on the closing day of bidding on Friday.

The Rs 4,011-crore initial share sale got bids for 1,44,03,92,004 shares against 3,51,27,002 shares on offer, translating into 41.01 times subscription, as per data available with the NSE.

Qualified Institutional Buyers (QIBs) garnered 103.97 times subscription. The category for non-institutional investors received 34.98 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 7.73 times.

National Securities Depository Ltd mobilised over Rs 1,201 crore from anchor investors on Tuesday.

The IPO has a price band of Rs 760-800 per share.

The depository's public issue solely consists of an offer for sale (OFS) component of 5.01 crore shares, and those selling shares under this are National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and Administrator of Specified Undertaking of the Unit Trust of India (SUUTI).

Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO.

The upcoming listing will make NSDL the country's second publicly traded depository after Central Depository Services Ltd (CDSL), which was listed on the NSE in 2017.

NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, it pioneered the dematerialisation of securities in India in November 1996.

ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers to the issue.

Shares of NSDL are expected to list on August 6.