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CDSL IPO receives overwhelming response, oversubscribed 170 times

The initial public offering of CDSL has received tremendous response from all type of investors.

June 21, 2017 / 10:11 PM IST
  • bselive
  • nselive
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The initial public offering of Central Depository Services (CDSL) has received tremendous response from all types of investors, with getting more than Rs 62,929 crore worth of bids against issue size of Rs 369.9 crore (excluding anchor investors' portion).

The Rs 524-crore issue has oversubscribed 170.11 times on final day, as per data available with exchange.

It has received bids for more than 422 crore equity shares against issue size of 2.48 crore shares.

The reserved portion of qualified institutional buyers oversubscribed 148.70 times while non-institutional investors' category comprising high net-worth individuals subscribed 563 times.

Retail individual investors, who are eligible for up to Rs 2 lakh worth of shares, applied for 22.98 times the shares on offer.

CDSL, the second largest depository in the country, on Friday already raised Rs 154.07 crore from 15 anchor investors at a higher end of price band of Rs 145-149 per share.

It is an offer for sale issue of 3.51 crore shares (representing 33.65 percent of fully diluted post-offer paid-up equity) by selling shareholders - BSE Limited up to 2.72 crore shares, State Bank of India up to 47.75 lakh shares, Bank of Baroda up to 21.74 lakh shares and Calcutta Stock Exchange up to 10 lakh shares.

CDSL will not receive any proceeds of the offer and all the proceeds of the offer will go to the selling shareholders.

Pre-issue, BSE Limited held 50.05 percent stake in the company, followed by SBI 9.57 percent, HDFC Bank & Standard Chartered Bank 7.18 percent each, Canara Bank 6.45 percent, Bank of India 5.57 percent, Bank of Baroda 5.07 percent and LIC 4.15 percent stake.

Incorporated in December 1997, CDSL is a leading securities depository in India by incremental growth of beneficial owner accounts over the last three fiscals and by the total number of registered depository participants, as at the end of fiscal 2016, according to the CRISIL report.

The book running lead managers to the offer are Haitong Securities India, IDBI Capital Markets and Securities and YES Securities (India).

Posted by Sunil Shankar Matkar

first published: Jun 21, 2017 03:18 pm