NSDL (National Securities Depository Limited) is India's oldest securities depository. Like CDSL, it holds shares in electronic (demat) form. NSDL is commonly used by full-service brokers and banks (HDFC, ICICI, Kotak). Its account is identified by a DP-ID starting with "IN" followed by a client ID — together your BO ID.
Why it matters to you
NSDL and CDSL are fully interoperable, so unlisted shares can move between them. What matters is giving the seller the right format: NSDL accounts read like "IN30..." plus an 8-digit client ID, whereas CDSL accounts are a single 16-digit number. Getting this format wrong is the most common cause of a stuck off-market transfer.
Example: An investor pasted only the DP-ID without the client ID; the DIS was rejected until the full 16 characters were supplied.