The IPO of National Securities Depository Limited (NSDL) closed on a strong note with a subscription of 41.02 times.
With the allotment date set for August 4, and listing expected on August 6, investors are keen to know what kind of listing gains they might see.
Grey Market Premium Hints at a Positive Listing
According to grey market trends, NSDL shares are currently trading around ₹920, compared to the upper price band of ₹800. This suggests a GMP of ₹120, or a 15% expected premium. While GMP doesn’t guarantee listing performance, it does indicate strong investor interest.
Who Subscribed and by How Much?
The IPO was completely offer-for-sale (OFS), meaning no fresh shares were issued. Still, demand was high:
- Retail Investors: 7.76 times
- Non-Institutional Investors (NII): 34.98 times
- Qualified Institutional Buyers (QIB): 103.97 times
Such high interest from institutional buyers often reflects confidence in the company’s long-term prospects.
Possible Listing Price Range
If market conditions remain stable, NSDL could list between ₹900 and ₹940. However, market volatility or profit booking could affect this. Short-term traders may look for early listing gains, while long-term investors might wait for price stability before entering.
NSDL to Join CDSL as a Listed Depository
Once listed, NSDL will be India’s second listed depository, after CDSL. This adds uniqueness to the stock and could attract investors who want exposure to India’s growing capital market infrastructure.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice. IPO investments are subject to market risks. Please consult a certified financial advisor before making any investment decisions.