NSDL IPO Generates Up to 39,900% Return for NSE, SBI, and HDFC Bank

The ₹4,000 crore IPO of National Securities Depository Limited (NSDL) has delivered staggering returns for early institutional investors, including State Bank of India, NSE, and HDFC Bank, turning early-stage equity worth lakhs into hundreds of crores.

Mind-blowing Returns: SBI Turns ₹80 Lakh into ₹320 Crore

State Bank of India, having bought 40,00,000 NSDL shares at just ₹2 each, is offloading them at ₹800 in this IPO. As per a report, this translates to a whopping ₹320 crore in proceeds, yielding a return of 39,900%. IDBI Bank also invested ₹4.44 crore at ₹2 per share and is now realising ₹1,776 crore from selling 2.22 crore shares.

NSE and Other Stakeholders Tap into Riches

The NSE, holding a 24% stake in NSDL, acquired its shares at an average cost of ₹12.28 and is now set to encash ₹1,418 crore from selling 1.8 crore shares, a return of nearly 6,415%. Union Bank of India, despite a higher acquisition price of ₹5.20, turns ₹26 lakh into ₹40 crore with a 15,000% return.

Read More: When Will NSDL Shares Be Credited to the Demat Account?!

HDFC Bank Also Profits Substantially

HDFC Bank stands to earn ₹139 crore from its 20.1 lakh shares bought at ₹108.29, resulting in a 638% return. Meanwhile, SUUTI invested ₹68.3 lakh in 34.15 lakh shares at ₹2 each. 

Driven by Regulatory Compliance and Growth

This NSDL IPO was an offer for sale, driven by regulatory requirements to reduce equity holdings beyond SEBI’s permissible limits. IDBI Bank and NSE are mandated to reduce their stakes below 15%. NSDL IPO marked its debut on BSE on August 6, 2025, with a listing gain of 10%. 

Conclusion

The NSDL IPO has emerged as an extraordinary wealth generator for its early institutional investors, showcasing stellar returns. 

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