₹2 to ₹1,300 in 72 hours: NSDL’s IPO rally mints 650 baggers

In just three trading days, National Securities Depository Ltd (NSDL) has turned a handful of early backers into stock market legends — minting windfalls measured in hundreds of thousands of percent. 

SBI, IDBI Bank, and SUUTI have each bagged a jaw-dropping 650x return, while other marquee investors are counting astronomical gains.

After debuting on August 8 at ₹880 — a 10% premium to its ₹800 IPO price — NSDL shares have raced to ₹1,300.30, notching a 62.5% rise over the issue price in barely 72 hours.

SBI leads the pack. The country’s largest lender picked up 6 million shares (3% stake) at just ₹2 apiece, spending ₹1.20 crore. That stake is now worth ₹7,801.80 crore, locking in a ₹7,800.60 crore paper profit and a scarcely believable 6,50,050% return.

IDBI Bank matched SBI’s blockbuster performance. Its 29.98 million shares (14.99% stake), bought for ₹2 each at a cost of ₹5.996 crore, are now worth ₹3,898.80 crore — a ₹3,892.80 crore gain.

SUUTI rounds out the 650-bagger club. Its 10.245 million shares (5.12% stake) cost ₹2.049 crore at ₹2 apiece and are now valued at ₹1,332.68 crore — a ₹1,330.63 crore profit.

The National Stock Exchange paid more — ₹12.28 per share — but still turned its remaining 29.999 million shares (15% stake) into ₹3,900.90 crore from an initial ₹36.84 crore, a ₹3,864.06 crore gain and a 105-bagger.

HDFC Bank’s 13.8995 million shares (6.95% stake), bought at ₹108.29, have risen from ₹150.54 crore to ₹1,657.54 crore — an 11-bagger yielding ₹1,507 crore in profit.

Union Bank of India transformed its 5.125 million shares (2.56% stake) bought at ₹5.20 into a ₹666.90 crore holding from a ₹2.665 crore investment — a 249-bagger with ₹664.23 crore in gains.

It’s not just institutions cashing in. NSDL’s 10.31 lakh retail shareholders who got allotments are sitting on significant gains — unless they’ve already locked them in.