NSDL’s $458 mn IPO fully sold within hours of launch

National Securities Depository Ltd’s $458 million Initial Public Offering (IPO) was fully subscribed within hours of its Wednesday launch as investors rushed to back its leading position in India’s rapidly growing securities market.

- Reuters

The country’s largest depository is drawing strong investor interest amid a retail investing boom, with demat accounts growing at a 21.9% compound annual rate since fiscal 2014 to 192.4 million by March 2025, according to its offer document.

NSDL holds around 86% of India’s securities depository market, where it operates as one of two licensed players. Shares of smaller rival Central Depository Services have surged nearly 12-fold since their 2017 debut.