Why NSDL shares did not list on the National Stock Exchange (NSE)

Shares of National Securities Depository Ltd (NSDL) did not list on the National Stock Exchange (NSE) as the latter is itself a promoter and one of the selling shareholders in NSDL’s IPO.

In addition, State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and Administrator of Specified Undertaking of the Unit Trust of India (SUUTI) also sold shares.

According to SEBI regulations, market infrastructure institutions like NSDL must comply with a maximum ownership cap of 15 per cent held by any single promoter entity. NSE currently held more than this limit (around 24 per cent) before the IPO, and its participation in the Offer‑for‑Sale (OFS) required NSE to reduce its stake.

The ₹4,011-crore NSDL IPO, an offer for sale (OFS) component of 5.01 crore shares, was subscribed 41.01 times on the closing day of bidding. The price band was ₹760-800 per share. The company secured ₹1,201 crore from anchor investors.

NSDL stock debuted on the BSE at 10 per cent premium at ₹880 against the issue price of ₹800. At 10.12 am, it traded at ₹906 after hitting an early high of ₹920.

Shivani Nyati, Head of Wealth at Swastika Investmart, advised investors to book partial profits near the listing level and retain some shares, possibly with a stop‑loss around ₹850

Likewise, Central Depository Services Ltd (CDSL) trades exclusively on the National Stock Exchange (NSE) due to regulatory constraints and to avoid conflicts of interest, as the BSE is its promoter. CDSL debuted on the NSE on June 30, 2017.

Catch live updates on NSDL share price here

Published on August 6, 2025