(From left) Sameer Patil, Chief Business Officer; Jigar Shah, Chief Financial Officer; Vijay Chandok, Managing Director & Chief Executive Officer; Prashant Vagal, Chief Operating Officer; and Kothandaraman Prabhakaran, Chief Technology Officer, National Securities Depository Ltd at a conference
Ahead of the upcoming ₹4,000 crore public offer, the National Securities Depository Ltd (NSDL) plans to focus on fintech partnerships, expanding service offerings to issuers, and targeting younger retail investors.
The company’s long-drawn public offer opens on July 30 and closes on August 1, with a price band of ₹760–₹800 per share. The offer is entirely an offer for sale (OFS) of 50.1 million shares by existing shareholders including IDBI Bank, SBI, NSE, HDFC Bank and Union Bank of India. Listing is expected on August 6.
The largest depository has introduced the ‘Yuva Plan’, aimed at individuals under the age of 24, offering zero settlement fees per debit instruction for the first 36 months of account opening.
Settlement fees are charges for transferring ownership of securities. The move is expected to help onboard more retail users, though NSDL’s draft red herring prospectus (DRHP) shows a decline in transaction revenue per account—from ₹72 in FY21 to ₹63 in FY23.
“The idea is to really facilitate more inclusion, participation in capital markets particularly by the young investors… because we see this as a growing market,” said Vijay Chandok, Managing Director and CEO of NSDL.
The depository also plans to expand cross-selling of products such as digital loans against securities and 3-in-1 accounts, and is working to dematerialize mutual fund holdings, making them eligible to be used as collateral for loans or margin trading.
On the infrastructure side, NSDL is providing depository participants (DPs) with access to APIs, secure systems, and value-added services to support deeper engagement. It is also pursuing bank-broker tie-ups to create integrated investor offerings.
NSDL continues to engage with listed issuers for service expansion, while encouraging unlisted companies to join the depository ecosystem. Additional service development is underway in areas such as e-voting, e-AGMs, pledge platforms, and contract note standardisation (STeADY).
NSDL holds the largest share by value of dematerialised securities at ₹464 trillion as of FY25, significantly ahead of CDSL’s ₹71 trillion.
Published on July 25, 2025
