NSDL shares jump 17 pc in market debut on BSE

New Delhi, Aug 6 (PTI) In a stellar debut, shares of National Securities Depository Ltd (NSDL) closed the first day of trade at a premium of 17 per cent against the issue price of Rs 800 on Wednesday.

The stock started trading at Rs 880 apiece, a jump of 10 per cent from the issue price on the BSE. In the intraday session, it rallied by 18 per cent to hit a high of Rs 943.85. Later, NSDL shares ended at Rs 936, up 17 per cent.

At the end of the trading session, the company's market valuation stood at Rs 18,720 crore on the exchange.

In volume terms, 3.7 crore equity shares were traded on the BSE during the day.

Meanwhile, the 30-share BSE Sensex fell 166.26 points or 0.21 per cent to close at 80,543.99.

The Rs 4,011-crore Initial Public Offering (IPO) of NSDL received 41 times subscription on the closing day of bidding on Friday. Last week, the NSDL mobilised over Rs 1,201 crore from anchor investors.

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).

Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO.

The upcoming listing will make NSDL the country's second publicly traded depository after Central Depository Services Ltd (CDSL), which was listed on the NSE in 2017.

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. PTI HG HG MR