CDSL share price gained in February 21 trade as its peer depository firm NSDL is targeting to launch its much awaited Rs 3,000-crore initial public offering (IPO) by next month.
The shares of Central Depository Services India Ltd (CDSL) gained 3.58 percent to hit an intraday high of Rs 1,294 per share on the NSE. At around 1:20 PM, the stock pared some of its gains to trade at Rs 1,259.80 apiece, up 0.84 percent.
"Our dates are expiring next month. We are rushing against time to get things done fast. We will try (to launch the IPO before that)," the official told PTI.
NSDL received approval from Sebi for its IPO in September last year. According to reports, NSE, State Bank of India (SBI), and HDFC Bank plan to sell 5.72 crore equity shares through a complete offer for sale (OFS).
Last week, NSDL reported a 30 per cent rise in its net profit for the December quarter, reaching Rs 85.8 crore compared to Rs 66.09 crore in the same period last year. Its total income grew 16.2 per cent to Rs 391.21 crore during the October-December 2024 quarter.
According to a report on PTI, the 12-month deadline for the NSDL DRHP expires in September, but it is the MII approval given by Sebi which is prompting the depository handling a bulk of India's dematerialised accounts to expedite the share sales process.
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