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India Today
a day ago
- Business
- India Today
NSDL IPO Day 1: Check latest subscription status, GMP and more
The initial public offering (IPO) of National Securities Depository Ltd (NSDL) opened for subscription today, marking one of the most anticipated listings in India's financial services sector this year. The issue, which will remain open until August 1, 2025, is entirely an offer-for-sale (OFS) and aims to raise Rs 4,011.60 crore. Shares are being offered in a price band of Rs 760 to Rs 800 of 12:19 PM on Day 1, the IPO had been subscribed 0.79 times overall. The retail portion saw a relatively strong response with 0.87 times subscription, while the Non-Institutional Investor (NII) category was subscribed 0.97 times. Qualified Institutional Buyers (QIBs) had subscribed to 0.50 times the shares reserved for the grey market, NSDL's shares are commanding a premium of Rs 126, implying an estimated listing price of Rs 926—around 15.75 percent higher than the issue price. While unofficial, grey market premium (GMP) trends are often seen as an early indicator of investor one of India's two major depositories, plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The allotment is expected on August 2, with the listing likely to take place on August 5. The IPO is being managed by a consortium including ICICI Securities, Axis Capital, HSBC Services, IDBI Capital, Motilal Oswal, and SBI Capital, with MUFG Intime India Pvt Ltd as vs CDSLadvertisementCDSL leads in retail reach, with 15.86 crore demat accounts across 113 cities, served by 581 depository participants (DPs). Its strength lies in fintech integrations, KYC services, and high transaction volumes from individual by contrast, is positioned as the institutional backbone—handling custody and settlement for mutual funds, pension funds, insurers, and government agencies. It operates with 296 DPs but has a far wider reach in terms of towns covered (2,059) and assets under NSDL IPO has also sparked renewed comparisons with its only competitor, Central Depository Services Ltd (CDSL), which is already listed. While both institutions underpin India's demat and securities infrastructure, they differ sharply in business orientation, scale, and financial of March 2025:In terms of value, NSDL oversees Rs 510 lakh crore in assets under custody, compared to CDSL's Rs 79 lakh crore—over six times more. While CDSL is more profitable per rupee of revenue, NSDL has been growing faster. Between FY23 and FY25, NSDL's revenue and PAT grew at a CAGR of 22.2% and 20.7%, respectively—outpacing CDSL's 15.4% and 11.9%.At the upper end of the IPO price band, NSDL is valued at a market cap of approximately Rs 16,000 crore and a P/E ratio of 44x—considerably lower than CDSL's Rs 35,000 crore and 67x. Despite lower profitability, NSDL's valuation reflects its institutional stickiness, leadership in asset custody, and long-term regulatory the ISIN freeze on July 17, NSDL's shares were trading at around Rs 1,000 in the unlisted market. The current IPO pricing offers a near 20% discount to those OR AVOID?Given NSDL's role in India's capital market plumbing, its strong fundamentals, and comparatively moderate valuation, analysts say the IPO may be attractive for long-term investors. It is a 100% offer-for-sale—primarily to comply with Sebi's minimum public shareholding norms in market infrastructure institutions—so no fresh capital is being looking for short-term listing gains may still find comfort in the strong GMP. However, the more compelling case lies in NSDL's potential to compound steadily over time as regulatory and digital mandates deepen institutional reliance on Investmart noted that NSDL is a pioneer in depository services and a key player in the demat revolution. The firm highlighted NSDL's expansion into value-added services, consistent top- and bottom-line growth, and fair pricing based on recent financials. 'Investors may grab this opportunity to invest in this evergreen company for the medium and long term,' the brokerage said in its note.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- EndsMust Watch
Business Upturn
a day ago
- Business
- Business Upturn
GNG Electronics makes strong debut, lists at Rs 355 on NSE with 49.79% premium over IPO price
GNG Electronics Limited began trading on the BSE on July 30, 2025, with an impressive listing at ₹355 per share, a 49.79% premium over its IPO issue price of ₹237. The stock is listed under the 'B Group' equity segment with the symbol EBGNG and BSE code 544455. It carries a face value of ₹2 per share and is identified by the ISIN INE18JU01028. The robust debut reflects strong investor confidence in the company's future prospects and reinforces the positive sentiment around SME IPOs. Disclaimer: This article is for informational purposes only and does not constitute investment advice. The views expressed are based on publicly available data and should not be considered as a recommendation to buy or sell securities. Ahmedabad Plane Crash News desk at
Time of India
2 days ago
- Business
- Time of India
IPO frenzy builds for NSE: Retail investor base quadruples for stock exchange before market debut plans; over 1 lakh join in 3 months
The National Stock Exchange ( NSE ) has ignited a historic surge in India's unlisted market, with its retail investor base soaring fourfold within three months amid growing anticipation around its initial public offering (IPO). More than 100,000 new retail investors have entered the fray, marking one of the most significant increases in unlisted market history. Between March and June 2025, NSE's retail investor count jumped from 33,896 to 146,208. Individual residents with shareholdings up to Rs 2 lakh now account for 11.81 per cent of the company's ownership—up from 9.89 per cent the previous quarter. "The surge in NSE's retail shareholder base is truly unprecedented, a more than fourfold jump in just one quarter," said Krishna Patwari, Founder and MD of Wealth Wisdom India Pvt Ltd ( speaking to ETMarkets. This sharp rise comes as the exchange nears a long-awaited public listing, expected by Q4 FY26, with speculation pointing to a potential BSE debut. Read more: India's Q1 trade shines as core merchandise exports up 7.2 per cent; rupee, forex reserves show resilience, says Economic Affairs department A major regulatory tweak has helped fuel the spike. On March 24, 2025, NSE lifted the freeze on its ISIN (International Securities Identification Number), allowing seamless share transfers akin to other unlisted stocks. The move slashed the share transfer timeline from up to three months to just one day—broadening access for smaller investors. "Earlier, the ISIN for NSE shares was not freely transferable, which made the buying and selling process complex and time-consuming," Patwari explained. "Today, trades are happening for as few as 10 shares, reflecting the growing retail interest." SEBI Chairman Tuhin Kanta Pandey, on June 21, confirmed that all hurdles to NSE's IPO had been cleared. The exchange has already proposed a payment of Rs 1,388 crore to SEBI, aiming to resolve legacy issues related to co-location and dark fiber access that had previously stalled its public debut. Financially, NSE continues to outperform. Its FY25 net profit surged 47 per cent to Rs 12,188 crore, while revenue rose 16 per cent to Rs 17,141 crore. With commanding market shares—94 per cent in cash equities, 99 per cent in equity index futures, and 88 per cent in equity index options—NSE remains India's undisputed exchange leader. "NSE's net profit of Rs 12,188 crore in FY25 dwarfs BSE's ~Rs 1,322 crore, clearly reflecting its dominance, scalability, and superior business model," brokerage Prabhudas Lilladher noted in a recent report. "The profit gap isn't incidental—it's structural." Globally, NSE is the largest derivatives exchange by volume and the fifth-largest stock exchange by market capitalisation. Its current market value is nearing Rs 5.4 lakh crore, with unlisted share prices reportedly doubling each year. In 2024 alone, it hosted 268 IPOs, raising Rs 1.67 lakh crore. The exchange has also drawn heavyweight institutional investors. As of June 2025, Life Insurance Corporation held a 10.72 per cent stake, while Radhakishan Damani owned 1.58 per cent. Other key stakeholders include Aranda Investments, Stock Holding Corporation of India, and SBI Capital Markets. "NSE has consistently attracted attention in the unlisted space due to its strong business fundamentals and critical role in India's financial infrastructure," said Vijay Kuppa, CEO at InCred Money, as quoted by ET. "With FY25's solid numbers, investor demand has only increased—reflected in its shareholder base crossing 1 lakh." Meanwhile, with SEBI's green light expected soon, NSE may require four to five months to prepare its draft red herring prospectus (DRHP), followed by another two to three months for regulatory approvals. For retail investors eyeing NSE's IPO, the window of opportunity is fast approaching. Many view it as a rare chance to invest in a cornerstone of India's financial ecosystem—potentially unlocking gains from one of the country's most anticipated public offerings. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Cision Canada
5 days ago
- Business
- Cision Canada
Westbridge Renewable Energy Announces Share Consolidation
CALGARY, AB, /CNW/ - Westbridge Renewable Energy Corp. (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") a leading developer of utility-scale renewable energy and energy infrastructure, announces its intention to consolidate the Company's common shares. The Company announces that its Board of Directors has approved a consolidation of the Company's common shares (the " Common Shares") on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Common Shares (the " Consolidation"), subject to approval from the TSX Venture Exchange (the " Exchange" or the " TSXV"). The Consolidation is being undertaken in order to position the Company for broader institutional investor participation, enhance trading liquidity, and support its long-term capital markets strategy. The Company currently has 101,149,851 Common Shares issued and outstanding. Following the Consolidation, it is expected that the Company will have approximately 25,287,462 Common Shares issued and outstanding, subject to rounding for fractional shares. No fractional shares will be issued as a result of the Consolidation. Any fractional interest in Common Shares will be rounded down to the nearest whole number, in accordance with TSXV policies. The Consolidation remains subject to final approval by the Exchange. The Company's name and trading symbol will remain unchanged. The effective date of the Consolidation, along with the new CUSIP and ISIN numbers, will be announced in a subsequent news release once TSXV approval has been obtained. "This share consolidation is a strategic step that supports Westbridge's broader growth trajectory and enhances our profile in public capital markets," said Stefano Romanin, CEO of Westbridge. About Westbridge Renewable Energy Westbridge originates, develops, operates and monetizes best-in-class, utility-scale solar PV projects, stand-alone battery energy storage projects and other clean energy-focused development. The Company has a portfolio of projects in four key jurisdictions: Canada, the U.S., the U.K. and Italy. Westbridge delivers attractive, long-term returns by originating and developing an international portfolio of renewable energy assets to support increasing demand for energy and grid reliability. Management brings a strong track-record with a cumulative 40+ development projects worldwide. As one of very few listed, pure-play international solar and BESS development companies, Westbridge provides investors with access to greenfield solar and energy storage projects at the earliest stage of development, allowing them to benefit from the full development value chain. Westbridge aims to deliver clean, sustainable electricity and energy storage solutions to support increasing electricity demand and grid reliability in the jurisdictions in which it operates. For more information, please visit: | Twitter | LinkedIn Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Certain information set forth in this document contains forward-looking information and statements and the timing thereof. Forward-looking information also includes management's assessment of future plans and operations, that the Company will complete the Consolidation; that the Company will receive the necessary approvals to complete the Consolidation; that the number of Shares outstanding following the Consolidation will be consistent with the number set out herein; that the Consolidation will impact the Company as anticipated; and that the treatment of fractional shares will align with management's current expectations. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future, including project milestone progress at Fontus, and should not be relied upon for any other purpose. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential", "will", "may", "could", "should", or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them, as actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: the Company's ability to complete licensing and interconnection processes; availability of capital and financing on acceptable terms or at all; risks relating to general business, economic, competitive, regulatory, policy and social uncertainties; changes in laws or market conditions; and the risks identified under the headings "Risk Factors" in the Company's annual financial statements and management's discussion and analysis, and other disclosure documents available on the Company's profile on SEDAR+ at The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, except as required by law. SOURCE Westbridge Renewable Energy Corp.
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Business Standard
7 days ago
- Business
- Business Standard
NSE's investor base surges ahead of anticipated IPO, driving mkt optimism
Anticipation of a long-awaited initial public offering (IPO) is driving a remarkable influx of retail investors into the National Stock Exchange (NSE). The exchange's public shareholder base has ballooned to 1.57 lakh as of June 2025, a dramatic four-fold increase since the end of March. Retail investors, defined as individuals holding nominal share capital up to ₹2 lakh, are leading this charge. Their numbers skyrocketed from approximately 34,000 in March to 1.46 lakh by June, boosting their collective stake in the country's largest exchange from 9.89 per cent to 11.81 per cent. This surge also follows a significant operational change: the activation of NSE's International Securities Identification Number (ISIN) on March 24. This unique global code has streamlined the share transfer process, slashing transaction times from months to just days. Market participants confirm shares are now freely transferable, with robust volumes from both buyers and sellers. "The pre-ISIN era involved cumbersome document compliance, limiting transactions," explained Abhay Doshi, Co-founder of UnlistedArena. "Since the stock was effectively 'defreezed,' we've seen robust investor demand significantly expanding the shareholder base. Growing clarity and progress on the IPO have further fueled this positive sentiment." The heightened demand has propelled NSE's unlisted share price to ₹2,225 apiece, valuing the exchange at approximately ₹5.5 trillion. This marks a substantial rise from around ₹1,600 at the start of the current financial year. "The rise underscores growing retail confidence in the exchange as a wealth creation opportunity," noted Uday Tardalkar, economist and market expert. "We're also seeing stake dilution from some long-term HNI holders." While retail ownership surged, the stake held by individual public shareholders owning over ₹2 lakh share capital dipped slightly to 9.52 per cent (from 9.64 per cent). Foreign ownership also declined by nearly one percentage point since March. IPO hopes have intensified following indications that the NSE is nearing a ₹1,388-crore settlement with the Securities and Exchange Board of India (Sebi) regarding long-pending co-location and dark fibre cases. Sources suggest Sebi could grant the crucial no-objection certificate (NOC) for filing the Draft Red Herring Prospectus (DRHP) within the next two months. "Strong investor demand for ownership creates a compelling case for listing," stated Mrugank Paranjape, Chairman of the IMC Task Force on Capital Markets and Managing Partner at MCQube. "Listing will enable better public price discovery, addressing the current lack of clarity on valuation." Among NSE's top shareholders are Life Insurance Corporation (LIC), SBI Capital Markets, Aranda Investments (Mauritius), State Bank of India (SBI), Canada Pension Plan Investment Board, and prominent investor Radhakishan Damani.
