CDSL Witnesses 9.6% Equity Change in ₹1,722 Crore Block Deal

27 Mar 2024 , 02:47 PM

A block deal on the Bombay Stock Exchange witnessed the exchange of 1 Crore shares, equivalent to 9.6% of Central Depository Services Ltd.’s total equity.

Shares were traded at an average price of ₹1,690 per share, resulting in a total transaction value of ₹1,722 Crore.

According to other news sources CNBC-TV18, Standard Chartered Bank Corporate Banking plans to sell its entire 7.18% stake in CDSL through the block deal, with a floor price of ₹1,672 per share, representing a 6.3% discount to CDSL’s Tuesday closing price.

Standard Chartered Bank Corporate Banking has held 75 lakh shares or 7.18% of CDSL’s total equity since its IPO, as stated in the company’s RHP document.

According to the company’s Red Herring Prospectus (RHP) document, Standard Chartered Bank – Corporate Banking has maintained ownership of 75 lakh shares, equivalent to 7.18% of the total equity of CDSL, since the company’s initial public offering (IPO).

Based on the December quarter shareholding pattern, India’s Mutual Funds possess a 12.95% stake in CDSL, with notable funds such as Parag Parikh Flexi Cap Fund, Invesco India Focused 20, PGIM India, and Nippon Life holding stakes exceeding 1%.

 The stock debuted in the stock market in 2017 at an IPO price of ₹149, marking a more than 10x increase. Over the past 12 months, the stock has gained 85%.

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