NSDL shares fall after one-month shareholder lock-in ends today

Shares of National Securities Depository Ltd. (NSDL), India’s largest depository services provider, which recently listed on the bourses, fell over 2% on Wednesday, September 3.NSDL’s one-month shareholder lock-in period will end on September 3, which is slated to free up as many as 7.5 million shares of the company for trading.

The number of shares that will free up for trading, amount to 4% of the company’s outstanding equity, according to Nuvama Alternative and Quantitative Research.

Based on the current market price, the number of shares that will free up for trading as the lock-in period ends, are valued at nearly ₹1,000 crore.Another 8 million shares or 4% of the outstanding equity of NSDL will free up for trading when its three-month lock-in period ends on November 3.

In the 18 trading sessions since its listing on August 6, shares of NSDL have gained in 12 of them and continue to trade above their IPO price of ₹800.

Shares of NSDL made a post-listing high of ₹1,425 within the first few sessions of listing, before correcting marginally from those levels.

Shares of NSDL are trading 1.7% lower on Wednesday at ₹1,255.55. The stock remains 60% above its IPO price of ₹800.