Shares of National Securities Depository Ltd (NSDL) rose 9% on August 11 to extend their post-listing gains to a whopping 62%. The market capitalisation of the firm rose to over Rs 28,000 crore.
At 9:40 am on August 11, NSDL shares were trading 8% higher at Rs 1,404 apiece.
NSDL shares got listed last week and gave listing gains of 10% and have since witnessed a tearaway rally.
Meanwhile, on August 11 Nifty Capital Markets index was trading 0.24% higher at 4,328.65 with Anand Rathi and Aditya Birla Sun Life Amc Ltd leading the gains.
NSDL's peer CDSL's stock was trading nearly flat at Rs 1,569.
The Rs 4,011-crore Initial Public Offering (IPO) of NSDL received 41 times subscription on the closing day of bidding. The initial share sale had a price band of Rs 760-800 per share.
The depository's public issue solely consists of an Offer For Sale (OFS) component of 5.01 crore shares, and those selling shares under this are National Stock Exchange of India (NSE), 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).
NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, it pioneered the dematerialisation of securities in India in November 1996.
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