NSDL IPO: Price Band Announced at ₹760–₹800, 22% Below Grey Market Price…

National Securities Depository Ltd (NSDL) is launching its IPO from July 30 to August 1, with anchor investor bidding starting July 29. 👉 IPO Price Band: ₹760–₹800 per share 👉 IPO Size: ₹4,011 crore (pure offer for sale) 👉 Market Cap at ₹800/share: ~₹16,000 crore This pricing shocked investors as it’s 22% lower than NSDL's unlisted market price of ₹1,025/share. Just last month (June 12), the price had touched ₹1,275, meaning it’s already corrected nearly 20%. This trend of pricing IPOs below unlisted prices has been seen earlier in Tata Tech, HDB Financial, UTI AMC, and others. Experts warn against blindly investing in unlisted shares expecting IPO gains—such stocks are high risk and illiquid. NSDL Early Investor Jackpot: • IDBI Bank: Bought shares at ₹2, now worth ₹4,176 crore (from just ₹10.44 crore investment) • NSE: Bought at ₹12.28, stake now valued at ₹3,840 crore • Govt via SUUTI: ₹2.73 crore stake now worth ₹1,093 crore • HDFC Bank: Bought at ₹108.29, now worth ₹1,273 crore • SBI: Bought at ₹2, now valued at ₹800 crore • Union Bank: ₹7 crore investment (at ₹5.20) now worth ₹450 crore Other upcoming IPOs like Tata Capital, Hero Fincap, and NSE are also expected to go for conservative pricing due to weak unlisted market sentiment. Key takeaway: NSDL’s IPO may look cheap vs grey market, but it reflects realistic valuation amid volatile unlisted market trends.