NSDL IPO Oversubscribed 41 Times: A Milestone in Indian Securities Market
The National Securities Depository Ltd's IPO received an overwhelming response with 41 times subscription on its closing day. The Rs 4,011-crore share sale attracted substantial bids, particularly from qualified institutional buyers. NSDL's public listing marks it as the second depository to go public in India.
- Country:
- India
National Securities Depository Ltd's (NSDL) initial public offering concluded with unprecedented enthusiasm, receiving 41 times subscription. The Rs 4,011-crore IPO witnessed bids for over 1.44 billion shares against the 3.51 million shares on offer, showcasing a robust demand among investors.
Qualified Institutional Buyers (QIBs) led the charge with an impressive 103.97 times subscription. Non-institutional investors and Retail Individual Investors (RIIs) followed with 34.98 and 7.73 times subscriptions, respectively. The pricing range for the shares was set between Rs 760-800.
The public issue, an entirely Offer for Sale (OFS) component, ensures that NSDL will not gain proceeds from the IPO. Notably, NSDL becomes the nation's second publicly traded depository, signifying a significant milestone in India's securities market.
(With inputs from agencies.)
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