CDSL IPO price band Rs. 145-Rs. 149

CDSL IPO is likely to give gains to investors on listing, say brokerages

CDSL IPO is likely to give gains to investors on listing, say brokerages

The IPO will priced in a band of Rs 145-149.

At the higher end of the price band, the shares are estimated to fetch around Rs 524 crore.

Up to 7,00,000 shares are reserved for employees.

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).

One dead in potential terrorist attack near London mosque
Finsbury Park mosque was once a notorious hub for radical Islamists but has entirely changed in recent years under new management. On May 22, a suicide bomber killed 22 people at a concert by American pop singer Ariana Grande in Manchester in northern England.

The company is one of the two depositories in India which naturally makes it a sought-after upcoming IPO.

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. CDSL works as a depository of e-insurance accounts and handling more than 60,000 insurance policies in the electric method.

CDSL was established in 1997 by BSE, which holds a 50.05% equity stake in the depository unit.

CDSL's IPO, the first by a securities depository firm in India, comprises only an offer for sale by its shareholders, including BSE, State Bank of India, Bank of Baroda and Calcutta Stock Exchange. However, the scenario is changing gradually and this is a big positive for players like CDSL. In the latest year, its profitability was at 53.2%. The entire proceeds from the OFS will be paid to the selling shareholders. Out of the Rs 74.1 crore, it earned past year, CDSL paid a total of Rs 31.4 crore in the form of dividends.

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