Central Depository Services (CDSL) has priced its initial public offering (IPO), aimed at raising up to Rs 524 crore, between Rs 145 to Rs 149 per equity share. The shares have a face value of Rs 10. The IPO is scheduled to open on June 19 and will close on June 21. Anchor investors can bid for the shares on June 16. The equity shares offered through the RHP are proposed to be listed on the National Stock Exchange (NSE). Bids can be made for a minimum of 100 equity shares and in multiples of 100 shares thereof. The public issue of CDSL involves BSE, SBI, Bank of Baroda and Calcutta Stock Exchange as its existing shareholders offload over 3.51 crore shares through the offer-for-sale (OFS) route. The net profit of the company declined 5% to Rs 86.5 crore in FY 17 on the back of net revenues of Rs 146 crore. The company had reported a net revenue of Rs 122.8 crore in FY16. The wage bill of the company witnessed an increase of 15.7% to Rs 24.86 crore in the fiscal 2016-2017.
The global co-ordinators and book running lead managers to the offer are Axis Capital, Edelweiss Financial Services, Nomura Financial Advisory and Securities (India) and SBI Capital Markets. The book running lead managers are Haitong Securities India, IDBI Capital Markets & Securities and YES Securities.
CDSL offers services to depository participants and other capital market intermediaries, corporates, capital market intermediaries, insurance companies, among others.
As of April 30, 2017, it had over 1.2 crore investor accounts. In Fiscal 2017; it held a 59% market share of incremental BO accounts with a net growth in BO accounts of 13.68% from fiscal 2016 to fiscal 2017; over 253 billion securities of 9,934 issuers under custody representing a total value of Rs 18.3 lakh crore; 589 registered DPs who had over 17,000 service centres across India; and over 15 million KYC records with a market share of approximately 67%.
The company’s revenue from operations includes transaction charges, account maintenance charges and settlement charges paid by DPs and annual fees, corporate action charges and e-voting charges paid by companies whose securities are admitted to its systems.