NSDL IPO Allotment Status LIVE: Finalisation Expected Soon — Key Details, GMP, and How to Check

The Rs 4,011-crore initial public offering (IPO) of National Securities Depository Ltd (NSDL) received strong investor interest, being oversubscribed 41 times during the bidding window that closed on August 1. The allotment status is expected to be finalized today, August 4.

NSDL IPO Analyst Recommendations

Ajcon Global has rated the issue as ‘Subscribe’, citing NSDL’s pivotal role in India’s financial infrastructure. At the upper price band of Rs 800, the issue is valued at a price-to-earnings (P/E) multiple of 46.62x on FY25 estimated earnings.

Angel One also recommends subscribing, highlighting NSDL’s strong market position, high entry barriers, and growth potential from digital expansion.

IPO Subscription Details

Qualified Institutional Buyers (QIBs): 104x
Non-Institutional Investors (NIIs): 35x
Retail Investors: 8x
Employees: 15x
Overall Subscription: 41x

Due to the high demand, only about 1 in 8 retail investors are expected to receive allotment.

NSDL IPO GMP (Grey Market Premium)

As of August 4, 6:34 PM, the grey market premium for NSDL IPO stands at Rs 126.

IPO Price: Rs 800
Estimated Listing Price: Rs 926
Potential Listing Gain: Approximately 15.75 percent

How to Check NSDL IPO Allotment Status

Through Kfin Technologies (Registrar):

Visit: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Select ‘NSDL’ from the dropdown
Enter your PAN, Application Number, or DP ID
Click ‘Submit’ to view status

Via BSE:

Go to BSE IPO Allotment Page
Navigate to Investors > Status of Issue Application
Choose ‘Equity’ as Issue Type
Enter PAN and Issue Name
Click ‘Search’ to view allotment

Via NSE:

Visit: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
Select ‘NSDL’ under Equity IPO
Enter PAN or Application Number
Click ‘Submit’ to view status

NSDL vs CDSL: Comparison

CDSL has a wider retail reach with over 15 crore demat accounts
NSDL dominates in institutional holdings and settlement value
NSDL has higher revenue per account (Rs 56.80) due to its institutional focus

Financial Highlights

Profit After Tax (PAT) CAGR (FY23–25): 20 percent
Return on Equity (ROE): 17 percent
Strong cash flows and consistent profitability
Estimated market capitalization on listing: Rs 16,000 crore

Even as a 100 percent Offer for Sale (OFS), NSDL’s valuation is considered reasonable, especially when compared with listed peer CDSL.

IPO Close Date: August 1, 2025
Allotment Finalisation Date: August 4, 2025 (Expected Today)
Listing Date: August 6, 2025