Standard Chartered Bank-corporate banking is likely to sell entire 7.18% stake in Central Depository Services (India) Ltd (CDSL) for $151 million through a block deal, sources told CNBC-TV18 on March 26.
Floor price for the block deal has been fixed at Rs 1,672 per share, which represents 6.3% discount to last close of Rs 1,785.
The offering type is 100% secondary placement and JPMorgan India is likely to be the advisor for the proposed block deal.
CDSL received its certificate of commencement of business from SEBI in February 1999 and it facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.
In the December quarter, CDSL's sales rose 44% to Rs 169.5 crore while its standalone net profit rose 37% to Rs 86 crore on an annual basis. EBITDA stood at Rs 121.66 crore in December 2023, up 39.47% from Rs 87.23 crore in December 2022. CDSL's EPS has increased to Rs 8.2 in December 2023 from Rs 6 in December 2022.
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