Millennium Post

CDSL IPO opens on June 19; price band at Rs145-149

Set to become the first depository to list on domestic stock exchange, BSE promoted CDSL has fixed the price band at Rs 145-149 to raise more than Rs 500 crore from its initial public offering (IPO).
The Central Depository Services (India) (CDSL) IPO would hit the capital markets on June 19. The public issue of CDSL, which would end on June 21, involves its existing shareholders, including BSE, offloading over 3.5 crore shares through the offer-for-sale (OFS) route.

At the higher end of the price band the shares are estimated to fetch around Rs 524 crore. BSE, which currently holds 50.05 per cent stake in CDSL, would offload 2.72 crore shares, representing 26.05 per cent of its holding in the depository, to meet with
Sebi norms.
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