IDBI Bank, and National Stock Exchange-backed market infrastructure institution National Securities Depository (NSDL) has mopped up Rs 1,201.4 crore from 61 institutional investors via anchor book on July 29, a day before the issue opening for public subscription.
National Securities Depository (NSDL) that competes with only listed peer BSE-backed Central Depository Services (CDSL) is raising Rs 4,011.6 crore via initial public offering (IPO) which will open for all institutional investors on July 30 and close on August 1. The price band for the offer has been fixed at Rs 760-800 per share.
NSDL in its filing to exchanges on Tuesday said it has finalised allocation of 1.5 crore equity shares to anchor investors at Rs 800 per share.
Marquee global investors invested in NSDL via anchor book were Smallcap World Fund, Government Pension Fund Global, Abu Dhabi Investment Authority, Ashoka Whiteoak, Florida Retirement System, Allianz Global, Manulife Global Fund, Tocu Europe, Amundi Funds, and Eastspring Investments.
Several domestic institutional investors like Life Insurance Corporation (LIC), SBI Mutual Fund, ICICI Prudential Mutual Fund, Whiteoak Capital, HDFC AMC, Fidelity Funds, Nippon Life, Aditya Birla Sun Life AMC, Axis Mutual Fund, UTI AMC, SBI Life Insurance, Mirae Asset, HDFC Life Insurance, 360 ONE Equity Opportunity Fund, JM Financial MF, Tata Investment Corporation, and LIC MF also put their name in the shareholders list through anchor book investment.
Among them, LIC was the largest investor, buying nearly 18 lakh shares (11.99 percent of the total anchor book) for Rs 144 crore.
"Out of total allocation of 1.5 crore equity shares to anchor investors, 52.97 lakh equity shares (which is 35.27 percent of total anchor book) were subscribed by 12 domestic mutual funds through their 22 schemes," NSDL said.
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The IPO comprises of entirely offer-for-sale of existing public shareholders - IDBI Bank, National Stock Exchange, Union Bank of India, State Bank of India, HDFC Bank (SS), and UTI. Hence, all the IPO proceeds will go to these selling shareholders and the company will not receive any offer money.
NSDL that valued at Rs 16,000 crore at the upper price band is the largest depository in India with a network of 65,391 depository participants’ service centres as compared to 18,918 such centres with CDSL.
On the financial front, the company has recorded profit at Rs 343.1 crore for the fiscal 2025, growing 24.6 percent, and revenue at Rs 1,420.1 crore, increasing 12 percent over the previous financial year.
The merchant bankers managing the NSDL IPO are ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets.
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