Shares of Central Depository Services Limited (CDSL) suffered a fall of over 4% in the trade on the back of a large block deal worth Rs 558 crore. A total of 56 Lakh shares changed hands in the early trading sessions on June 14.
The sellers of CDSL’s 5.4% stake were not immediately known but according to CNBC-TV 18 sources, the potential seller was Bombay Stock Exchange. The likely buyers in this deal are a few high-net-worth individuals and various domestic mutual funds.
The shares in the deal are offered at an average price of Rs 1,000 per equity share. CDSL shares saw a dip of 3.36 % at Rs 1,012.55 per share on the National Stock Exchange today. The trading volume of CDSL shares is over 12 times at 6.7 million shares in a one-month average trade volume. The stocks of CDSL traded up at 1.74% in the last one month, meanwhile it fell to nearly 13 percent on a year-to-date basis.
Bombay Stock Exchange still owns a 15 percent stake in CDSL post today’s deal. CDSL’s March 2023 shareholding showed BSE had a hold of 20% stake in the company.
In February this year BSE floated 2.5 percent stake of CDSL via Offer of Sale (OFS) route.
The Central Depository Services Limited is one of the two listed depositories in the country with National Securities Depositories Limited (NSDL). It oversees the ownership and transactions of securities in an electronic form. It also provides with settlement of trades on the country’s stock exchanges.
As of March 2023, the net sales of CSDL were reported at 124.77 crore which was a drop of 8.64 percent when compared to Rs 136.56 crore it projected in the same time period a year ago. This quarter the net profit of CSDL was projected at Rs 63.10 crore, a decline of almost 19% on-year.
