CDSL IPO fully covered on day one

Ltd (CDSL) - a subsidiary of BSE Limited - has launched its initial public offer (IPO) on June 19, 2017 and will be available till June 21, 2017.

CDSL will be offering 3.52 crore of equity shares valuing up to Rs 1,557 crore in the issue at price band ranging between Rs 145 per share and Rs 149 per share.

CDSL has raised Rs 154.06 crore from anchor investors by selling 1.03 crore shares.

On Friday, the issue saw Abu Dhabi Investment Authority, FIL Investment (Mauritius), and top investment bank Goldman Sachs among the anchor investors participating in the IPO. After the blockbuster entry of BSE in the capital markets, investors have braced themselves for the BSE promoted CDSL IPO.

CDSL has paid dividends regularly to its shareholders in the last four years and considering that BSE will continue to remain the biggest shareholder, this policy is unlikely to change anytime soon. Post-IPO, the promoter's stake will reduce to 24% from 50.05%.

The issue size is Rs 510-524 crore.

CDSL is one of the two securities depositories in India, the other being National Securities Depository Ltd. (NDSL). After providing total tax of Rs 29.98 crore, consolidated profit after tax stood at Rs 86.59 crore. The depository commenced in 1999 to provide convenient, dependable and secure depository services at affordable cost to all market participants.

  • Zachary Reyes