National Securities Depository Limited

National Securities Depository Limited is an Indian central securities depository, based in Mumbai. It was established in August 1996 as the first electronic securities depository in India with national coverage. At the end of 2023, its demat accounts held assets worth ₹398 lakh crore.
NSDL provides services to investors, stock brokers, custodians and issuer companies through a network of Depository Participants and digital platforms. Its services are related to dematerialization, transfer and settlement of securities in the Indian securities market.

History

National Securities Depository Limited is an Indian central securities depository under the jurisdiction of Ministry of Finance, Government of India based in Mumbai. The enactment of Depositories Act, December 1995 paved the way for establishment of NSDL. It was established in 1996 as the first electronic securities depository in India with national coverage.
NSDL has more than 2.80 crore demat accounts as of 30 June 2022. It contributes to majority of the settlement in the Indian securities markets and has more than 89% share in the total value of assets held in demat form in India.
The initial public offering of NSDL was launched in July 2025 as an offer for sale of shares worth ₹4,012 crore by its existing shareholders, including NSE, IDBI Bank, State Bank of India, HDFC Bank, and SUUTI. The shares listed on BSE on 6 August 2025.

Company structure

NSDL Group comprises National Securities Depository Limited, NSDL Database Management Limited and NSDL Payments Bank Limited. NDML and NSDL Payments Bank are two subsidiary companies of NSDL.
Protean eGovernance Technologies was a former subsidiary. It works on Digital Public Infrastructure and Open Source software as well as offers services related to issuance of PAN cards and also acts as central record-keeping agency for National Pension System.