CDSL initial public offer opens today

 BT Online        Last Updated: June 19, 2017  | 12:32 IST
CDSL initial public offer opens today

Mumbai-based securities depository Central Depository Services (India) Ltd (CDSL) has come out with its Initial Public Offer (IPO) today.

The offer comprises up to 35,167,208 equity shares of face value of Rs 10 each at a price of Rs 145 to Rs 149 per equity share of face value of Rs 10 each

The IPO will close on June 21.

The issue size is Rs 510-524 crore. Its global coordinators and lead managers include Axis Capital,  Edelweiss, Nomura and SBI Capital Markets.

CDSL's promoter BSE will sell 26% stake in the security depository via the IPO.  Currently, BSE holds 50.05 percent stake in CDSL.

Now, it needs to bring down stake to 24 percent by June 30. The firm was given time by market regulator Sebi for listing by the end of last fiscal. Up to 7 lakh shares have been reserved for employees.

CDSL  is one of the two securities depositories in India, the other being National Securities Depository Ltd. (NDSL).

 The firm is coming out with an IPO almost 20 years after its incorporation.

 

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