The recent public listing of National Securities Depository Ltd. (NSDL) has transformed into an extraordinary wealth-creation event for its key stakeholders, including the National Stock Exchange (NSE), State Bank of India (SBI), and HDFC Bank. The IPO, which debuted at a moderate valuation, has unlocked staggering value—catapulting initial investments into multibagger territory with a jaw-dropping return of up to 39,900%.