The IPO buzz is heating up as National Securities Depository Limited (NSDL) gears up for its much-anticipated public issue. However, investors are closely watching the Grey Market Premium (GMP), which gives an early hint at the listing price expectations.
So, what does the current GMP suggest for your investment decision? Let’s break it all down.
NSDL IPO GMP Today
As of 10 a.m. PDT / Late evening IST:
- Current Grey Market Premium (GMP): ₹135–₹137 per share
- IPO Price Band: ₹760–₹800 per share
- Estimated Listing Price: ₹935–₹937
- Expected Listing Gain: Around 17% over the issue price
While the GMP is still strong, it has cooled down from previous highs of ₹160–₹170 when the RHP (Red Herring Prospectus) was filed. Market experts attribute the drop to broader volatility and cautious investor sentiment.
What Is Grey Market Premium (GMP)?
GMP is the unofficial premium investors are willing to pay over the IPO issue price before listing. It’s traded outside the official stock exchanges and reflects market sentiment.
- A high GMP often signals strong demand and optimism about the stock’s debut.
- A falling GMP, as seen here, can reflect short-term caution—even if overall demand remains healthy.
NSDL IPO Details at a Glance
| Feature | Details |
|---|---|
| IPO Open Dates | July 30 to August 1, 2025 |
| Tentative Listing Date | August 6, 2025 |
| Price Band | ₹760 to ₹800 per share |
| Lot Size | 18 shares |
| Minimum Investment | ₹14,400 for 1 lot (Retail) |
| Issue Type | 100% Offer for Sale (OFS) |
| Total Issue Size | ₹4,011.6 crore |
| Major Sellers | NSE, SBI, HDFC, IDBI, Union Bank, SUUTI |
Why Is the GMP Lower Than Before?
Several reasons explain the slight dip in GMP:
- Market Volatility: Global cues and domestic fluctuations have made traders more cautious.
- Profit Booking: Early grey market participants may be locking in gains.
- IPO Saturation: A flood of high-demand IPOs this month may be stretching retail and HNI appetite.
Despite this, the GMP remains positive and strong, hinting at solid listing potential.
What Analysts Say
Experts continue to view the NSDL IPO favorably due to its:
- Monopoly-like position in India’s depository market
- Consistent profitability and cash flows
- Reputation as India’s oldest and largest depository
Even with a declining GMP, analysts at firms like SBI Securities and Anand Rathi suggest subscribing, especially for long-term investors.
Key Takeaways for Investors
- GMP of ₹135–₹137 still signals double-digit listing gains.
- All eyes are on July 30, when the IPO opens for public subscription.
- Investors should balance GMP hype with fundamental analysis before applying.
Frequently Asked Questions (FAQs)
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What is the current GMP of NSDL IPO?
As of July 28, 2025, the GMP is around ₹135–₹137 per share, implying a 17% listing premium.
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When does the NSDL IPO open and close?
The IPO opens on July 30 and closes on August 1, 2025.
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Is the GMP reliable for deciding whether to invest?
GMP is helpful but unofficial. It reflects market mood, not guaranteed returns. Investors should also look at the company’s financials and valuation.
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Why did the GMP drop from ₹160–₹170 to ₹135–₹137?
Market fluctuations, profit-taking, and investor caution led to the decline. However, GMP is still strong, indicating demand.
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What is the minimum investment required in NSDL IPO?
Retail investors need to apply for at least 1 lot (18 shares), costing ₹14,400 at the upper price band.
Final Word
The NSDL IPO is still commanding strong investor interest, even with a softening GMP. If you’re considering applying, watch how GMP evolves, but more importantly, understand NSDL’s financial strength, monopoly position, and future growth prospects.
Stay tuned for daily GMP updates and the latest allotment and subscription data as the IPO goes live this week.
