CDSL files prospectus for IPO of up to 3.5 crore shares

MUMBAI: BSE-promoted Central Depository Services (India) (CDSL) has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering of up to 3.52 crore shares.

BSE, State Bank of India, Bank of Baroda and Calcutta Stock Exchange would be selling a portion of their stakes in CDSL through the IPO.

The shares are proposed to be listed on the NSE. The IPO would include sale of 3.45 crore shares by existing shareholders while the remaining seven lakh shares would be reserved for subscription by eligible employees. The face value of the shares is `10 each.

Promoter BSE, which holds 50.05% in CDSL will hold 24% post the offer.SBI which holds 9.57% now will hold 5% while Bank of Baroda's holding will come down to 2.99% from 5.07% currently . Calcutta Stock Exchange's which holds 0.96% will cease to be a shareholder after the IPO. The net offer would constitute 32.98% of CDSL's post offer paid up equity share capital.

Axis Capital, Edelweiss Financial Services, Nomura, SBI Capital Markets, Haitong Securities, IDBI Capital Markets, and YES Securities are the book running lead managers to the issue.