National Securities Depository (NSDL) Limited (Mainboard)(TENTATIVE DATES) review & Analysis GMP

 


National Securities Depository (NSDL)

 July 24, 2025 – July 28, 2025

Price₹0 - ₹0
Premium₹155
Lot size0
AllotmentJul 29, 2025
ListingJul 31, 2025

ParameterDetails
Total Issue Size5,01,45,001 shares (aggregating up to [.] Cr)
Offer for Sale5,01,45,001 shares (aggregating up to [.] Cr)
Issue TypeBookbuilding IPO
Listing AtBSE, NSE
Share Holding Pre Issue20,00,00,000 shares
Share Holding Post Issue20,00,00,000 shares


Investor CategoryShares Offered
QIBNot more than 50% of the Net Offer
RetailNot less than 35% of the Net Offer
NII (HNI)Not less than 15% of the Net Offer


KPIValues
ROE16.43%
RoNW16.43%
PAT Margin21.35%


Period Ended 31-Mar-23 31-Mar-22 31-Mar-21
Assets 2,093.5 1,692.8 1,504.0
Revenue 1,099.8 821.3 526.1
Profit After Tax 234.8 212.6 188.6
Net Worth 1,428.9 1,211.6 1,019.3
Reserves and Surplus 1,388.9 1,171.6 979.3
Total Borrowing 0 0 0

CDSL vs NSDL – India’s Depository Ecosystem Overview (2024)

CDSL Key Highlights (in Crores & Absolute Figures)

➤ Active Demat Accounts: Over 3.14 crore (or 31.46 million) investors are registered with CDSL as of FY24.

➤ Depository Participants (DPs): CDSL operates via 283 registered DPs across India.

➤ Listed Issuers: More than 40,987 companies are registered under CDSL’s depository system.

➤ New Accounts Daily: In FY23, an average of 15,139 new demat accounts were opened daily.

➤ Reach & Accessibility:

➤ PAN-India Coverage: Present in 99%+ PIN codes.

➤ Global Footprint: Services offered to investors in over 186 countries.


Additional Insights about CDSL

FeatureDetails
Market DominanceCDSL manages around 70% of all demat accounts in India (2024).
Rapid ExpansionGaining momentum due to increased retail participation.
Tech CapabilitiesPioneering in e-DIS, e-voting, and paperless KYC systems.

National Securities Depository Limited (NSDL)

➤ Established: India’s first depository, formed in 1996.

➤ Target Segment: Caters primarily to institutions and HNIs.

➤ Promoters: Supported by IDBI, NSE, and other leading financial entities.

Key Functional Areas of NSDL

➤ Strong presence in government securities (G-Secs), corporate bonds, and institutional holdings.

➤ Provides ASBA services to simplify IPO investments.

➤ Operates the Tax Information Network (TIN) framework across India.


Shared Services by CDSL & NSDL

Both depositories offer critical infrastructure for the Indian capital market. Common services include:

➤ Demat & Remat: Convert physical shares into digital form and vice versa.

➤ Account Management: Hold shares, ETFs, bonds, mutual funds electronically.

➤ Trade Settlement: Enable seamless T+1 settlement cycle (from 2023).

➤ Pledge/Hypothecation: Investors can use securities as loan collateral.

➤ Corporate Benefits: Manage dividends, stock splits, bonuses, and mergers.

➤ e-Voting Access: Empower investors with online voting rights.

➤ KYC Compliance: Align with SEBI and RBI norms for investor verification.


NSDL Subsidiaries

  1. NSDL Database Management Ltd (NDML)
    Offers e-Governance, insurance repositories, SEZ automation, KYC services, and the National Skills Registry.

  2. NSDL Payments Bank Ltd (NPBL)
    Provides B2B digital banking — includes AePS, micro ATMs, remittance services, UPI, POS, and mutual fund distribution.


CDSL Strengths in a Competitive Market

➤ Established Legacy: Since 1999, CDSL has emerged as a trusted depository for millions.

➤ Backed by BSE: Promoted by Asia’s oldest stock exchange, Bombay Stock Exchange.

➤ Robust Technology Framework: Ensures strong cybersecurity and infrastructure for digital operations.

➤ Stable Revenues: Generates income via annual maintenance, transaction charges, and data services.

➤ Diverse Portfolio: Offers custody of a wide range of assets – from equities to ETFs.

➤ Experienced Team: Strong management and governance frameworks in place.

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