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CDSL’s IPO to open on June 19, price fixed at Rs 145-149 per equity share

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cdsl

Mumbai: The initial public offering (IPO) of leading securities depository Central Depository Services Ltd (CDSL) will open on June 19 and close on June 21.

The price band of the offer is fixed from Rs 145-149 and little over 3.5 crore shares will be offloaded by CDSL through the Offer for Sale (OFS) route and 7 lakh shares would be reserved for employees.

CDSL, promoted by BSE, had filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India in December 2016.

The company will only be listed on National Stock Exchange and not on BSE since the latter is the promoter of the depository firm.

Four shareholders - BSE, SBI, Bank of Baroda and the Calcutta Stock Exchange - would be selling stakes in Central Depository Services (India) Ltd (CDSL) through the IPO.

Net offer would constitute 32.98 percent of CDSL's post offer paid up equity share capital. BSE, which holds 50.05 percent stake in the entity, got listed on the stock exchange in February 2017.

CDSL's revenue from operations includes transaction, account maintenance charges and settlement charges paid by depository participants. Besides, there are annual fees, corporate action charges and e-voting charges paid by the companies concerned.

Axis Capital, Edelweiss Financial Services, Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the global co-ordinators and book running lead managers for the offer.

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