Overview
- For a third consecutive day on Friday, NSDL’s stock climbed as much as 19% intraday to ₹1,339, marking a 67% gain over its ₹800 IPO price.
- The share price surge lifted the company’s market capitalization to about ₹26,600 crore.
- The fully secondary offer-for-sale IPO fetched ₹4,012 crore for existing shareholders and was subscribed 41.02 times, led by QIB bids at 103.97 times.
- Analysts point to NSDL’s dominance in managing nearly 3.94 crore active demat accounts and its robust FY25 results—12% revenue growth to ₹1,535 crore and 25% profit rise to ₹343 crore—as drivers of strong secondary demand.
- Experts remain divided on strategy, with some advising long-term holding based on fundamentals and others recommending profit-booking given the stock’s steep valuation at a P/E near 47 and price-to-book around 8.