'A Defining Chapter For NSDL': CEO Vijay Chandok On IPO Debut

The announcement dampened sentiment among investors who had acquired NSDL shares in the unlisted market, expecting a premium listing

NSDL’s public issue is scheduled to open for subscription on July 30, 2025

Source : IANS

Investors in National Securities Depository Ltd (NSDL) were caught off guard on Friday when the company revealed its IPO price band at a notable markdown compared to its trading value in the unlisted space. The IPO has been priced between Rs 760 and Rs 800 per share, significantly below the Rs 1,025 per share at which it was recently trading privately—a discount of nearly 22 per cent.

The announcement dampened sentiment among investors who had acquired NSDL shares in the unlisted market, expecting a premium listing. The stock has already declined by 20 per cent from its recent high of Rs 1,275, recorded on June 12, 2025.

During a press conference in Mumbai, Vijay Chandok, Managing Director and CEO of NSDL, said, "It's a defining chapter in the life of NSDL, and I stand here with a deep sense of pride, humility, and responsibility. As many of you are already aware, this listing is being undertaken in accordance with the regulatory guidance issued by the Securities and Exchange Board of India (SEBI).”

He added, “At the outset, I would like to express my sincere gratitude to the regulator for its visionary leadership, the various guidelines issued over the years, and its consistent efforts to strengthen transparency, improve governance, and develop the Indian capital market — ultimately leading to greater capital formation."

Mumbai, Maharashtra: Vijay Chandok, Managing Director and CEO of NSDL, says, "It's a defining chapter in the life of NSDL, and I stand here with a deep sense of pride, humility, and responsibility. As many of you are already aware, this listing is being undertaken in accordance… pic.twitter.com/MUEY83X8wB

— IANS (@ians_india) July 25, 2025

IPO To Open July 30

NSDL’s public issue is scheduled to open for subscription on July 30, 2025, and will close on August 1. The anchor book will open a day earlier, on July 29. The IPO, which consists solely of an offer for sale (OFS), seeks to raise approximately Rs 4,011 crore.

At the upper end of the price band, the company is expected to command a market capitalisation of around Rs 16,000 crore.

Price Band Strategy Echoes Recent IPO Trends

NSDL is not the first to adopt a conservative pricing strategy. In recent months, companies like HDB Financial Services, Tata Technologies, AGS Transact, UTI AMC, and PB Fintech have also priced their IPOs significantly below private market valuations.