| Name | National Securities Depository Limited Unlisted Shares |
|---|---|
| Short Name | NSDL Unlisted Shares |
| Sector | Depository |
| Security Type | Pre-IPO/Unlisted Shares |
| Face Value | ₹ 2 |
| ISIN Code | INE301O01023 |
| Available in Depository | CDSL & NSDL |
| NSDL Unlisted Share Price | ₹1060 Per Equity Share |
| Lot Size | 50 Shares |
| Minimum Investment | ₹ 53,000 |
| All Time High | ₹ 1060 |
| All Time Low | ₹ 999 |
| Highlights | - NSDL is India’s largest depository by issuers, instruments, and asset value under custody. - NSDL enables investors to hold securities in digital form via Demat accounts through depository participants - NSDL operates a centralized digital system for secure electronic holding and transfer of securities. |
| PAN | AADCN9802F |
| NSDL Unlisted Shares Price | ₹1060 Per Equity Share |
|---|---|
| Number of Outstanding Shares | 200000000 |
| Market Cap | 21,200.00 Crores |
| Earnings Per Share | 13.77 |
| P/E Ratio (x) | 76.98 |
| Book Value Per Share | 75 |
| Price to Book Value (x) | 14.13 |
| Debt to Equity (x) | NA |
| ROE (%) | 17.1 |
In the dynamic landscape of the capital markets—where risks and opportunities go hand in hand—NSDL (National Securities Depository Limited) stands out as a pillar of trust and innovation. As one of the leading securities depositories in India, NSDL plays a critical role in safeguarding stakeholders’ interests by leveraging state-of-the-art, scalable technology. It provides an extensive range of services to investors, issuer companies, intermediaries, and stockbrokers.
NSDL’s core mission is to enhance the safety, efficiency, and transparency of the Indian financial markets. Through continuous technological evolution, it addresses the growing and ever-changing demands of the capital market ecosystem.
In 1996, NSDL introduced the concept of ‘demat’ accounts, revolutionizing the way securities were held and transferred in India. At a time when the market was riddled with fake certificates, transfer delays, and settlement risks, NSDL’s move to digitize and dematerialize securities brought unmatched transparency and efficiency. Since then, NSDL has continuously enhanced its infrastructure to cater to the expanding needs of the securities market.
The 1990s marked a transformative period for India—ushering in economic liberalization, technological progress, and infrastructural expansion. In parallel with the development of ports, dams, and power plants, NSDL contributed by building a robust electronic backbone for the Indian securities market.
Today, NSDL holds securities valued at over $5 trillion, showcasing its scale, reliability, and contribution to India’s capital markets.
SPEED-e: Online submission of Delivery Instructions.
IDeAS (Internet-based Demat Account Statement): For investors and Clearing Members to view holdings and instructions.
NSDL SPEED-e App: Enables users to check balances, download eCAS, and access Client Master Reports.
SPICE (for eDIS & POA): Allows clients to mandate brokers for debiting securities against trading obligations.
STeADY: Electronic contract notes for institutional clients.
CMS (Collateral Management System): Efficient collateral handling system.
DPM Plus: Opt-in/opt-out facility for nomination and KYC updates.
DMS (Delivery Instruction Management System)
STP Navigator: Auto-upload of instruction files.
Auto Download: Retrieve data feeds from the NSDL depository system.
eSigner: For secure electronic signing of instructions.
NSDL has introduced several digital solutions to enhance investor convenience and simplify operations:
Digital LAS (Loan Against Securities): Secure pledge of securities for availing loans.
Demat Account Validation: Verification of demat accounts for authenticity.
MF Redemption: Enables digital redemption of mutual fund units.
IDeAS Integration: Seamless access to NSDL’s demat statement services.
eDIS & Margin Pledge: Mandate-based security debit and electronic pledging for margin trading.
Open Architecture System: Integration between brokers and bank-based DPs to provide trading access to NSDL demat holders.
NSDL supports issuer companies with a wide array of tools and platforms that streamline corporate actions, regulatory compliance, and shareholder engagement.
Corporate Action Processing
e-AGM: Virtual participation in company general meetings.
e-Voting: Secure electronic voting by shareholders.
CP Issuance Platform: Digital platform for managing Commercial Paper issuance.
Issuer Portal: Centralized access to NSDL’s services including ISIN allocation.
DLT-based Monitoring: Blockchain-driven compliance tracking of listed bonds and debentures.
System Driven Disclosures (SDD): Automates mandatory SEBI disclosures for promoters and key stakeholders.
FILM (FPI Monitor): Central platform for Foreign Portfolio Investor registration – www.fpi.nsdl.co.in.
Corporate Bond Database: Unified data repository for corporate bonds in India.
Tax Services: Helps investors manage tax-related formalities.
Reference Data Products: Market-wide securities master data access.
e-Notice: Electronic dissemination of notices to shareholders.
Bank Account Update: Update demat account bank details digitally.
Email ID Update: Streamline communication via updated email info.
National Securities Depository Limited (NSDL) continues to solidify its dominant position in India’s capital markets. With consistent growth in custody value, demat accounts, and issuer base, NSDL remains a trusted infrastructure partner for market participants.
As of March 31, 2024, NSDL’s custody value stood at ₹423.44 lakh crore, commanding an 86.83% market share in the Indian depository system.
NSDL holds:
70% market share in custody of individual investors (₹65 lakh crore)
86% share in custody of NRI assets (₹4.17 lakh crore)
NSDL holds a 97.45% market share in the demat value of debt securities, covering both listed and unlisted instruments.
For listed corporate debt securities, NSDL’s market share stands at an impressive 98.18%, with custody value reaching ₹41.36 lakh crore.
Active debt instruments increased from 28,077 in FY2018 to 54,094 in FY2024, reflecting strong industry trust in NSDL’s systems.
NSDL remains a leader in the dematerialisation of securities.
As of March 2024, 46,018 listed and unlisted companies had dematerialised their securities through NSDL—up from 40,987 in March 2023.
The number of dematerialised issuers has grown at a CAGR of 15% from FY2018 to FY2024.
In FY 2023–24, NSDL settled securities worth ₹76.59 lakh crore in dematerialised form, up from ₹69.13 lakh crore in the previous year.
Total volume of shares settled stood at 25,649 crore units.
During FY 2024, NSDL added 51.15 lakh new demat accounts, increasing the total to 5.27 crore by March 31, 2024.
Active demat accounts rose from 3.15 crore to 3.58 crore, a net increase of approximately 43 lakh accounts.
The total number of securities dematerialised reached 3.77 lakh crore as of March 31, 2024—up from 3.22 lakh crore a year earlier.
This represents a 16.25% year-on-year growth in dematerialisation.
NSDL’s Corporate Action (CA) platform supports IPOs, bonus issues, rights issues, and ESOPs electronically.
In FY 2024:
Total number of corporate actions rose to 6,24,832, a 31.66% increase from FY 2023.
83,525 crore securities were credited or debited through corporate actions, compared to 68,545 crore the previous year.
As of March 31, 2024, NSDL had 281 Depository Participants (DPs).
These DPs offered services through 61,665 service centres and branches, covering 2,048+ cities and towns across India.
NSDL (National Securities Depository Limited) continues to demonstrate robust financial performance, technological leadership, and strong market presence in the Indian capital markets. The consistent growth trajectory of the organization reinforces investor confidence and further strengthens the investment potential of NSDL unlisted shares.
Revenue from Operations surged to ₹473.06 crore in FY 2023–24 from ₹409.17 crore in FY 2022–23, reflecting a year-on-year (Y-o-Y) growth of 15.6%.
Profit Before Tax (PBT) rose sharply by 20.6%, reaching ₹327.52 crore in FY 2023–24 compared to ₹271.68 crore in the previous fiscal.
This solid financial growth underlines NSDL’s operational efficiency and strategic positioning within India’s financial infrastructure.
NSDL has firmly established itself as a leader in the Foreign Portfolio Investors (FPI) segment, with around 11,200 FPIs registered under its platform—representing a dominant 99.99% market share of FPI holdings in India.
Retail investor participation continued to grow, as the number of active demat accounts increased from 3.15 crore in FY 2022–23 to 3.58 crore as of March 31, 2024.
The total Demat Custody Value crossed the $5 trillion mark, a clear indicator of trust and scale.
During FY 2023–24, NSDL added 5,028 new issuer companies, taking the total number of registered issuers to 46,018.
NSDL continues to maintain its leadership in onboarding new issuers, supported by its tech-driven infrastructure and seamless corporate services.
The Government of India has mandated that all unlisted companies must dematerialise their shares by September 30, 2024. This regulatory move is expected to:
Further accelerate NSDL’s growth trajectory
Enhance operational efficiency for issuers
Improve investor engagement and transparency
Prepare unlisted companies for future capital market participation
NSDL at a Glance:
Milestones:
Source: NSDL Annual Report FY 2023-24
| Particulars | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|
| Income | |||
| Revenue from operations | 1,26,824.37 | 1,02,198.76 | 76,110.92 |
| Other income | 9,746.15 | 7,782.71 | 6,018.34 |
| Total income | 1,36,570.52 | 1,09,981.47 | 82,129.26 |
| Expenses | |||
| Employee benefits expense | 12,319.90 | 10,980.74 | 10,378.72 |
| Depreciation and amortisation expense | 2,412.41 | 2,168.93 | 1,893.20 |
| Finance cost | 205.99 | 151.94 | 217.71 |
| Contribution to investor protection fund | 1,148.31 | 988.55 | 895.53 |
| Other expenses | 84,852.71 | 64,703.38 | 40,783.52 |
| Total Expenses | 1,00,939.32 | 78,993.54 | 54,168.68 |
| Profit before Tax | 35,494.95 | 30,504.23 | 27,819.93 |
| Tax Expense | |||
| Current tax | 8,030.98 | 7,202.43 | 6,769.62 |
| Deferred tax | (80.46) | (179.18) | (209.08) |
| Total Tax Expenses | 7,950.52 | 7,023.25 | 6,560.54 |
| Profit after Tax | 27,544.43 | 23,480.98 | 21,259.39 |
| EPS (In INR) | 13.77 | 11.74 | 10.63 |
| Particulars | As at 31-03-2024 | As at 31-03-2023 | As at 31-03-2022 |
|---|---|---|---|
| Assets | |||
| Non-Current Assets | |||
| a) Property, plant and equipment | 25,483.94 | 3,381.67 | 2,972.88 |
| b) Capital work-in-progress | 40.96 | 24.38 | - |
| c) Intangible assets | 2,232.52 | 1,880.87 | 418.04 |
| d) Intangible asset under development | 1,250.19 | 485.64 | - |
| e) Right of use of assets | 1,174.07 | 1,567.69 | 59.68 |
| f) Financial assets | |||
| i) Non-current investments | 1,22,020.97 | 1,11,901.06 | 71,807.10 |
| ii) Other financial assets | 8,685.57 | 3,895.67 | 17,107.15 |
| g) Deferred tax assets (net) | 916.67 | 830.02 | 671.59 |
| h) Income tax assets (net) | 735.25 | 710.93 | 549.30 |
| i) Other non-current assets | 175.18 | 1,120.37 | 55.49 |
| Total Non-Current Assets | 1,62,715.32 | 1,25,798.30 | 93,641.23 |
| Current Assets | |||
| a) Financial assets | |||
| i) Current investments | 27,328.70 | 33,770.51 | 19,967.37 |
| ii) Trade receivables | 8,313.92 | 8,562.76 | 8,813.33 |
| iii) Cash and cash equivalents | 10,601.24 | 18,569.72 | 2,132.23 |
| iv) Bank balances other than (iii) above | 13,446.08 | 19,629.15 | 14,297.64 |
| v) Other financial assets | 553.78 | 709.82 | 180.69 |
| b) Other current assets | 2,814.48 | 2,307.22 | 1,542.97 |
| Total Current Assets | 63,058.20 | 83,549.18 | 46,934.23 |
| Total Assets | 2,25,773.52 | 2,09,347.48 | 1,40,575.46 |
| Equity and Liabilities | |||
| Equity | |||
| a) Equity share capital | 4,000.00 | 4,000.00 | 4,000.00 |
| b) Other equity | 1,64,409.72 | 1,38,886.18 | 1,04,040.83 |
| Total Equity | 1,68,409.72 | 1,42,886.18 | 1,08,040.83 |
| Liabilities | |||
| Non-Current Liabilities | |||
| a) Financial liabilities | |||
| i) Lease liability | 1,008.88 | 1,353.19 | 45.45 |
| ii) Other financial liabilities | 514.64 | 485.32 | 414.65 |
| b) Deferred tax liability (Net) | 7.40 | 1.21 | - |
| c) Other non-current liabilities | 606.57 | 583.67 | - |
| d) Provisions | 68.82 | 64.32 | - |
| Total Non-Current Liabilities | 2,206.31 | 2,487.71 | 460.10 |
| Current Liabilities | |||
| Total Current Liabilities | 55,157.49 | 63,973.59 | 32,074.53 |
| Total Liabilities | 57,363.80 | 66,461.30 | 32,534.63 |
| Total Equity and Liabilities | 2,25,773.52 | 2,09,347.48 | 1,40,575.46 |
The trend indicator above has been derived from the current demand/supply of NSDL Unlisted Shares. The trend has a tendency to change anytime depending on the market conditions and other events. This indicator must not be construed as any recommendation to buy/sell/hold.
Total Number of Outstanding Shares: 20,00,00,000 (As per NSDL Annual Report 2023-24)
Market Cap Scenarios:
At 800 Rs/Share, NSDL Unlisted Shares values the company at approx. Rs. 16,000 Crores
This are just pre-defined scenarios, since the market cap is variable to price, you can calculate the latest market cap based on the ongoing rates of NSDL unlisted shares.
At 1000 Rs/Share, NSDL Unlisted Shares values the company at approx. Rs. 20,000 Crores
This are just pre-defined scenarios, since the market cap is variable to price, you can calculate the latest market cap based on the ongoing rates of NSDL unlisted shares.
At 1200 Rs/Share, NSDL Unlisted Shares values the company at approx. Rs. 24,000 Crores
This are just pre-defined scenarios, since the market cap is variable to price, you can calculate the latest market cap based on the ongoing rates of NSDL unlisted shares.
| Name | Listing Status |
|---|---|
| CDSL | Listed |
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