The initial public offering (IPO) of Central Depository Services (CDSL) was subscribed by 7.55 times on Tuesday, the second day of its offering with investors bidding for 18.75 crore shares against 2.48 crore shares reserved. Qualified institutional buyers bid for 4.51 crore shares of the 68.93 lakh shares reserved for them. High net-worth individuals (HNI) bid for 1.73 crore shares of the 51.70 lakh shares reserved for them. Retail investors bid for 12.44 crore shares of the 1.20 crore shares reserved for them. Employees bid for 6.47 lakh shares of the 7 lakh shares reserved for them. Central Depository Services has priced its IPO, aimed at raising up to Rs524 crore, between Rs145 and Rs149 per equity share. The net profit of the company declined 5% to Rs86.5 crore in FY17 on the back of net revenues of Rs146 crore. The company had reported net revenue of Rs122.8 crore in FY16. The wage bill of the company witnessed an increase of 15.7% to Rs24.86 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, insurance companies and among others. As of April 30, 2017, it had over 1.2 crore investor accounts. 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.