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Central Depository Services (India) plans to raise ₹493-507 crore by offering a net 3.4 crore shares to the public in the price band of ₹145-149. The company’s IPO will remain open from June 19-21. The bid lot is 100 shares and in multiples thereof.
First depository to list sharesCDSL, which commenced operations in 1999, is the second-largest securities depository in India with a 45 per cent market share or 1.26 crore demat accounts.
The company will be the first depository to get listed in India.
All the proceeds of the offer will go to the selling shareholders, namely BSE, SBI, The Calcutta Stock Exchange and Bank of Baroda. Axis Capital, Edelweiss, Nomura, SBI Capital Markets, Haitong Securities, IDBI Capital Markets & Securities and YES Securities are the book-running lead managers.
BSE to cut holding to 24%The BSE, which got listed in February, currently holds 50 per cent stake in the company. Its shareholding post the IPO will more than halve to 24 per cent. Since CDSL is a subsidiary of the BSE, it will get listed on the NSE.
The BSE had a good debut with a little over 30 per cent premium to its issue price of ₹806. With Monday’s closing price, the stock is up 38 per cent compared to its issue price.
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