Three companies—National Securities Depository Limited (NSDL), Sri Lotus Developers and Realty Limited, and M&B Engineering Limited—were listed on the Indian stock exchanges today.

NSDL Made A Steady Debut 

National Securities Depository Ltd.NSDL₹910.50 +13.81%

  • Listing Gain: +10.00%
  • Subscription: 41.06x
  • Issue Size: ₹4,011.60 crore

India’s oldest depository and one of only two in the country, National Securities Depository Ltd., opened at ₹880, up 10% from its upper issue price of ₹800. 

NSDL, one of India’s two licensed securities depositories, dominates the depository landscape, managing over 85% of demat securities by number and nearly 87% by value as of March 2025. 

NSDL listed at ₹880, a 10% premium over its issue price of ₹800. The IPO, entirely an offer-for-sale by existing shareholders including IDBI Bank and NSE, aimed to provide liquidity and unlock value in a mature, infrastructure-heavy financial business.

Incorporated in 2012, NSDL plays a critical role in India’s capital markets by offering depository services across a wide spectrum of asset classes. 

Financially, the company posted a 11.98% increase in operating revenue to ₹1,420.15 crore in FY25. Net profit stood at ₹343.12 crore, up 24.57% year-on-year, aided by a combination of stable cost control and rising service adoption. 

Sri Lotus Developers Makes A Strong Listing 

Sri Lotus Developers and Realty Ltd.LOTUSDEV₹187.58 +25.05%

  • Listing Gain: +18.67%
  • Subscription: 69.10x
  • Issue Size: ₹792 crore

Mumbai-based real estate developer Sri Lotus Developers and Realty Ltd. made a strong entrance on the exchanges, listing at ₹178 against an issue price of ₹150. The 18.7% premium reflected investor confidence in the company’s luxury redevelopment strategy in the high-demand Mumbai suburban belt.

Founded in 2015, Sri Lotus focuses on residential and commercial redevelopment projects in Mumbai’s western suburbs under the “Lotus Developers” brand. Known for its contemporary design, and customer-centric construction, the company has built a reputation for delivering premium lifestyle spaces. Its asset-light model, based on development agreements rather than land ownership, enables high cash flow efficiency and faster project cycles.

The company plans to use IPO proceeds to fund its ongoing projects — Amalfi, The Arcadian, and Varun — via its subsidiaries Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate.

In FY25, operating revenue grew 19.09% to ₹549.68 crore, while net profit nearly doubled to ₹227.41 crore, reflecting robust project delivery and margin expansion. Total expenditure actually fell 13.97%, significantly boosting profitability. Other income also spiked 325%, adding to the bottom line.

M&B Engineering Makes A Flat Debut

M & B Engineering Ltd.MBEL₹409.25 +6.30%

  • Listing Gain: 0.00%
  • Subscription: 36.34x
  • Issue Size: ₹650 crore

M & B Engineering Ltd., a leading player in pre-engineered buildings and structural steel solutions, saw a flat listing at ₹385. 

Incorporated in 1981, the company offers integrated “design-led manufacturing” services under its flagship divisions Phenix and Proflex. With over 9,400 completed projects, it caters to infrastructure and industrial clients with turnkey solutions including design, fabrication, and erection. Its plants are strategically located across India and supported by 14 mobile manufacturing units for self-supported roofing systems, a key differentiator in execution speed and site adaptability.

For FY25, operating revenue grew 24.34% to ₹988.55 crore, while net profit surged 68.86% to ₹77.05 crore, driven by strong order book execution and margin improvement. EBITDA rose 45.13%, aided by better fixed-cost absorption. Interest costs fell 13.4%, improving the overall profit profile. The company intends to use IPO proceeds for capex, IT upgrades, and partial loan repayment.

Note: The stock prices mentioned are as of 11:15 am.

Disclaimer

Investments in securities market are subject to market risks, read all the related documents carefully before investing. This is for informational purposes and should not be considered as recommendations.

Kindly refer to  https://share.market/ for more details.

PhonePe Wealth Broking Private Limited is a member of NSE & BSE with SEBI Regn. No.: INZ000302639, Depository Participant of CDSL Depository with SEBI Regn. No.: IN-DP-696-2022, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887, and Mutual Fund distributor with AMFI Registration No: ARN- 187821. Member ID: BSE- 6756, NSE- 90226. 

Registration granted by SEBI, enlistment as Research Analyst, and Certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors

Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.