Today, June 30, shares of Central Depository Services (CDSL) saw a bumper listing on the National Stock Exchange as the share opened at Rs 250 against the issue price of Rs 149 – a gain of around 68%.
Soon the stock hit a high of Rs 268 in morning trade, up nearly 80% over the issue price.
The bumper listing of CDLS was on expected lines as the issue has overwhelming response, oversubscribing 170 times. The grey market premium also indicated the strong listing.
The Rs 524-crore initial public offering of CDSL was opened for subscription during June 19-21.
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It was an offer for sale issue of 3.51 crore shares (representing 33.65 percent of fully diluted post-offer paid-up equity) by selling shareholders BSE Limited, State Bank of India, Bank of Baroda and Calcutta Stock Exchange. Hence, the company did not receive any proceeds of the offer.
Incorporated in December 1997, CDSL is a leading securities depository in India by incremental growth of beneficial owner accounts over the last three fiscals and by the total number of registered depository participants, as at the end of fiscal 2016.
CDSL Stock Price & LIVE Quote :
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