January 24, 2018

CDSL IPO fully covered on day one

19 June 2017, 04:41 | Melvin Schneider

A man looks at a screen displaying news of markets update inside the Bombay Stock Exchange building in Mumbai

A man looks at a screen displaying news of markets update inside the Bombay Stock Exchange building in Mumbai

50% of the issue will be offered to qualified institutional buyers (QIB), 15% to non-institutional investors (NII) and remaining 35% to retail individual investors (RII).

CDSL is one of India's two depositories-the other is National Securities Depository Ltd-which holds securities in electronic form.

Limited on Monday, opened its Initial Public Offering (IPO) worth Rs 524 crore.

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.

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Under the regulations, a stock exchange can not have more than 24 per cent in a depository.

The OFS will mop up proceeds of Rs 509.92 crore at the lower price band of Rs 145 per share (face value Rs 10 per share) and Rs 523.99 crore at the upper band of Rs 149 per share.

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. However, the scenario is changing gradually and this is a big positive for players like CDSL. The company credits this strong profitability to its scalable business model.

The company has seen its revenues grow at a CAGR of 3.67% over the past four years with the revenue in FY2016 being Rs 139.4 crore. CDSL paid a dividend at the rate of 25% (Rs 2.5 per share) and this was up from 22% in FY2015.

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