NSDL IPO listing: shares list at 10% premium on BSE; how much profit retails, NIIs made

Shares of National Securities Depository (NSDL) made a decent debut at Dalal Street on Wednesday, August 06 as the leading depository player was listed at the bourses at Rs 880 on BSE, a premium of 10 per cent over its issue price Rs 800 apiece. The stock is not listed on NSE.

Investors made a profit of Rs 1,440 on 18 equity shares, which cost Rs 14,400 for the investors. Majority of the retail investors have got a single lot. Similarly, NII investors who got 252 equity shares for Rs 2,01,600 made a profit of Rs 20,160 in the IPO of NSDL.

Ahead of its listing, the grey market premium (GMP) of NSDL has seen some correction following mixed market sentiments. Last heard, the company was commanding a premium of Rs 125-130 per share in the unofficial market, suggesting a muted listing of up to 15-16 per cent to the investors. The GMP stood around Rs 135-140, when the issue had opened for bidding.

The IPO of National Securities Depository (NSDL) was open for bidding between July 30 and August 01. It had offered its shares in the price band of Rs 760-800 per share with a lot size of 18 shares. The company raised a total of Rs 4,011.60 crore from its IPO, which was entirely an offer-for-sale (OFS) 5,01,45,001 equity shares.

The issue was overall subscribed a solid 41.01 times, fetching bids worth Rs 1.15 lakh crore, close to 51.99 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 103.97 times. The allocation for non-institutional investors (NIIs) was booked 34.98 times. The portions for retail investors and employees were subscribed 7.73 times and 15.42 times, respectively.

Incorporated in 2012, NSDL is a SEBI-registered Market Infrastructure Institution, which acts as a securities depository, maintains electronic records of allotment and ownership transfer of securities, provides asset servicing for securities held in dematerialized form, provide services for trade settlement, off-market transfers, pledging of securities, and corporate actions.

Brokerage firms were mostly positive on this issue suggesting to subscribe it for long-term gains. ICICI Securities, Axis Capital, IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and SBI Capital Markets were the lead managers to the issue of NSDL, while MUFG Intime India was the registrar for the issue.