NSDL IPO Makes Waves with Over 3 Times Subscription

The National Securities Depository Ltd's (NSDL) initial public offering (IPO) was warmly received, with subscriptions reaching 3.42 times the total units on offer by the second day of bidding. The IPO, amounting to Rs 4,800 crore, is exclusively a fresh issuance of units by Knowledge Realty Trust.

Targeting various investor categories, the offering saw a particularly high appetite among non-institutional investors, drawing 5.88 times more subscriptions. Institutional demand was also notable, recording a subscription rate of 1.36 times the allocated portion.

Launched to monetize 30 prime office assets, the REIT aims to become India's largest by gross asset value. Knowledge Realty Trust boasts an operating income of Rs 3,432 crore and possesses over 46 million sq ft of office space across six major cities.

(With inputs from agencies.)