Recently Listed IPO of Depositary Rally 16% to Hit Fresh High of Rs 1,339, Delivering 67% Gains to IPO Investors in Just Three Days

Shares of newly-listed National Securities Depository Limited (NSDL) rallied 16 per cent in intraday trade on Friday, August 8, extending their gains after a strong debut earlier this week. The surge pushed the stock to a fresh high of nearly Rs 1,339 on the BSE, rewarding IPO investors with a 67 per cent in just three days.

NSDL shares listed on the BSE on Wednesday, August 5, at Rs 880 — a 10 per cent premium over the IPO price of Rs 800 — and closed the debut session 17 per cent above the issue price. In Friday’s trade, the stock opened at Rs  return1,160, above its previous close of Rs 1,123.20, and quickly hit the day’s high of Rs 1,299, defying the weak trend in the broader Indian stock market. This marked a 15.65 per cent intraday gain.

NSDL is India’s largest depository, holding over Rs 200 lakh crore worth of securities in demat form, and commands an 85 per cent market share. 

Also Read: Stock Market Update 

Also Read: Price Volume breakout stocks: These stocks likely to be in focus tomorrow!

Also Read: Top three stocks that saw heavy demand from buyers in the pre-opening session today

The NSDL IPO received strong demand, being subscribed 41 times in total. The retail portion was booked 7.73 times, while non-institutional investors (NIIs) subscribed 34.98 times. Qualified institutional buyers (QIBs) saw the highest subscription at 103.97 times, and the employee segment received bids 15.42 times its quota. 

The Rs 5.01 crore-share public offering was entirely an offer for sale (OFS), with selling shareholders including the National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India, and the Administrator of Specified Undertaking of the Unit Trust of India (SUUTI).

Disclaimer: The article is for informational purposes only and not investment advice.