NSDL shares rise 6% post decent listing; M&B Engineering, Sri Lotus Developers surge up to 10%

Shares of National Securities Depository Ltd (NSDL) climbed over 6% on August 6 after making a good stock market debut. The listing was accompanied by gains in two other newly listed companies, Sri Lotus Developers and M&B Engineering as all three stocks debuted on stock markets today.

Shares of National Securities Depository Ltd (NSDL), which provides depository services to both retail and institutional clients, made a decent debut on the Bombay Stock Exchange (BSE) on Wednesday, August 6. The stock listed at ₹880 apiece, a 10% premium over its IPO price of ₹800 per share. It was listed only on the BSE, as the National Stock Exchange (NSE) is one of the company’s promoters.

On the first day of trading, as many as 1.31 crore shares changed hands on the BSE within the first five minutes. NSDL’s market capitalisation stood at ₹18,182 crore as of 10:05 am.

By market close, NSDL shares had risen more than 6% to ₹936 apiece, marking a 17% gain from the IPO price. This came despite the listing premium being lower than grey market expectations. Prior to listing, unlisted shares were trading with a grey market premium of about 16% over the issue price.

Sri Lotus Developers made a strong debut on the stock exchanges on Wednesday, August 6. The Mumbai-based luxury real estate firm got listed at ₹179.10 per share on the BSE, marking a 19.4% premium over its IPO price of ₹150. On the NSE, the stock opened at ₹178 apiece, up 18.67%.

The debut premium closely matched grey market expectations, as unlisted shares were trading with a GMP of nearly 18% ahead of listing. This followed the ₹792-crore IPO, which was subscribed 69 times during the three-day bidding.

By 12:55 pm, the stock rose 5.7% to ₹188 on the NSE, taking its market capitalisation to ₹9,203.16 crore. Later, it surged 10% to hit the upper circuit at ₹195.80, over 30% higher than its IPO price.

M&B Engineering shares debuted flat on the NSE at ₹385 apiece, the upper end of its issue price band of ₹366–₹385. After the listing, the stock gained over 5% to close at ₹405.25 per share.

The debut stood in sharp contrast to grey market trends, where the company’s unlisted shares were quoting at a premium of over 14% to the IPO price ahead of listing.

The initial public offering of M&B Engineering Ltd saw strong demand, recording 36.2 times subscription on the final day of bidding. NSE data showed bids for 35,47,18,980 shares against 97,98,309 shares on offer.

Earlier, on Tuesday, the company raised nearly ₹292 crore from anchor investors.