Rs 1.2 crore turns to Rs 7,802 crore! SBI hits jackpot with NSDL. HDFC Bank, NSE aren't far behind
National Securities Depository Limited
's (
NSDL
) blistering 62.5% rally in the three days since listing has delivered windfall mark-to-market gains for early institutional investors, with SBI,
IDBI Bank
, and SUUTI reaping a 650-bagger in their portfolios.
NSDL lived up to its pre-IPO hype, with shares issued at Rs 800. The stock surprised even bullish investors, soaring to Rs 1,300.30 in just three trading sessions after debuting on August 8.
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India's largest lender,
State Bank of India
(SBI), has emerged as the biggest gainer. With an average acquisition cost of just Rs 2 per share and holdings of 6 million shares (3% stake), SBI's Rs 1.20 crore investment is now worth Rs 7,801.80 crore—delivering a staggering profit of Rs 7,800.60 crore and an eye-popping 6,50,050% return.
Also Read |
NSDL shares rocket 67% from IPO price. Time to cash out or double down?
IDBI Bank has mirrored SBI's spectacular performance, also clocking a 650-bagger return. Its 29.98 million shares (14.99% stake), acquired at Rs 2 apiece for Rs 5.996 crore, are now valued at Rs 3,898.80 crore, translating into a profit of Rs 3,892.80 crore.
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The state-owned Specified Undertaking of Unit Trust of India (SUUTI) completes the 650-bagger trio. Its 10.245 million shares (5.12% stake), purchased at Rs 2 per share for Rs 2.049 crore, are now worth Rs 1,332.68 crore, a notional profit of Rs 1,330.63 crore.
The National Stock Exchange (NSE), despite its higher average acquisition cost at Rs 12.28 per share, has generated exceptional returns in NSDL. After selling 9% stake in the IPO while retaining 15%, NSE's remaining 29.999 million shares have turned its Rs 36.84 crore investment into Rs 3,900.90 crore, a profit of Rs 3,864.06 crore, representing a 10,488.76% return, making NSDL a 105-bagger for the exchange.
Also Read |
Astronomical 39,900% return! NSDL IPO becomes multibagger money machine for NSE, SBI, HDFC Bank
HDFC Bank
, with an acquisition cost of Rs 108.29 per share and holdings of 13.8995 million shares (6.95% stake), has seen its Rs 150.54 crore investment swell to Rs 1,657.54 crore. This translates into a profit of Rs 1,507 crore and a 1,101.14% return—an impressive 11-bagger performance.
PSU
Union Bank of India
rounds out the winners' circle. Holding 5.125 million shares (2.56% stake) purchased at Rs 5.20 apiece, its Rs 2.665 crore investment is now worth Rs 666.90 crore, delivering a profit of Rs 664.23 crore – a staggering 249-bagger return.
NSDL shares
made their public debut on August 6 at Rs 880, a 10% premium to the IPO issue price of Rs 800, and have climbed each day since. By Friday's close, the stock had gained 62.5% over the IPO price.
"We remain constructive on NSDL, given its leadership in the institutional depository segment and its significant role in offering custodial and depository services to mutual funds, insurers, banks, and foreign portfolio investors (FPIs). With a robust market position, steady revenue visibility, and reasonable valuations, we recommend a HOLD for investors who received allotments, keeping a long-term view in mind," said Gaurav Garg from Lemonn Markets Desk.
The windfall extends beyond institutions. NSDL's 10.31 lakh retail shareholders who received allotments are also sitting on hefty gains, unless they have already booked profits.
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