[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  The Chartians [@chartians](/creator/twitter/chartians) on x 134.9K followers Created: 2025-07-25 13:23:53 UTC So NSDL is launching it's IPO! Date : 30th July - 1st Aug Price Band : 760-800 XX% Discount to Unlisted Price NSDL was trading at an ATH of 1275 in the unlisted market in the first week of June 😬 (those who bought in FOMO 🫂) The price band at which it is launching looks favourable. Expecting a listing gain of atleast 20%! The XX% IPO discount offers some downside cushion, but the upside? Still capped due to: 🔸Losing the retail battle: CDSL's 4x advantage in demat accounts is massive. This matters because retail is where the growth is happening in Indian markets. 🔸Lower operational efficiency: Higher revenue but lower profits suggest cost issues 🔸Valuation premium without growth premium: Trading at similar multiples despite slower retail adoption. 66.64x P/E vs 44x P/E [NSDL] CDSL wins decisively on retail reach it has nearly 4x more demat accounts than NSDL. This matters because retail is where the growth is happening in Indian markets. CDSL may be more expensive. But its retail dominance and operational edge give it the stronger long-term moat. For us, NSDL looks like a classic “cigar butt” investment. This is a utility-like business, trading at fair value, but with limited growth levers that will likely deliver steady, unspectacular returns - perfectly fine for conservative portfolios, but not the kind of investment that creates generational wealth. #NSDLIPO #NSDL #StockMarketIndia  XXXXXX engagements  **Related Topics** [listing](/topic/listing) [fomo](/topic/fomo) [ipo](/topic/ipo) [Post Link](https://x.com/chartians/status/1948735961510166623)
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The Chartians @chartians on x 134.9K followers
Created: 2025-07-25 13:23:53 UTC
So NSDL is launching it's IPO! Date : 30th July - 1st Aug Price Band : 760-800 XX% Discount to Unlisted Price
NSDL was trading at an ATH of 1275 in the unlisted market in the first week of June 😬 (those who bought in FOMO 🫂)
The price band at which it is launching looks favourable. Expecting a listing gain of atleast 20%!
The XX% IPO discount offers some downside cushion, but the upside? Still capped due to: 🔸Losing the retail battle: CDSL's 4x advantage in demat accounts is massive. This matters because retail is where the growth is happening in Indian markets.
🔸Lower operational efficiency: Higher revenue but lower profits suggest cost issues
🔸Valuation premium without growth premium: Trading at similar multiples despite slower retail adoption. 66.64x P/E vs 44x P/E [NSDL]
CDSL wins decisively on retail reach it has nearly 4x more demat accounts than NSDL. This matters because retail is where the growth is happening in Indian markets.
CDSL may be more expensive. But its retail dominance and operational edge give it the stronger long-term moat.
For us, NSDL looks like a classic “cigar butt” investment. This is a utility-like business, trading at fair value, but with limited growth levers that will likely deliver steady, unspectacular returns - perfectly fine for conservative portfolios, but not the kind of investment that creates generational wealth.
#NSDLIPO #NSDL #StockMarketIndia
XXXXXX engagements
