CDSL initial public offer subscribed 169.45 times on last day

MUMBAI: The initial public offering of Central Depository Services (India) Ltd (CDSL) on Wednesday witnessed a subscription frenzy from public market investors, leading to the issue being subscribed 169.45 times, according to data from the stock exchanges.

As of 6 pm, the portion of shares reserved for institutional investors was subscribed 148.71 times, while the portions reserved for high net-worth individuals and retail investors were subscribed 563 and 22.38 times, respectively.

Wednesday was the last day of the offering. CDSL had priced its shares in a band of ₹145-149. The IPO, a pure offer for sale, saw existing shareholders — BSE India Ltd, State Bank of India Ltd, Bank of Baroda Ltd, and The Calcutta Stock Exchange —sell around 35.16 million shares.

At the upper end of the price band, the share sale will fetch these shareholders ₹524 crore. Collectively, these selling shareholders own 65.65% in CDSL.

Also on Wednesday, the initial share sale of cable TV and broadband services provider GTPL Hathway Ltd saw a subscription of 27% on the first of the public offering. As of 5 pm, the portion of shares reserved for institutional investors was subscribed 69%, while the portions reserved for high net-worth individuals and retail investors saw 0% and 15% subscriptions, respectively.

The company has set a price band of ₹167-170 per share for the initial share sale. The offer closes on June 23. The IPO will see the company raise ₹240 crore.