The initial public offering of Central Depository Services (CDSL) was subscribed by 2.09 times on Monday, the first day of its offering with investors bidding for 5.19 crore shares against 2.48 crore shares reserved. Qualified institutional buyers bid for 67.11 lakh shares of the 68.93 lakh shares reserved for them. High net-worth individuals (HNI) bid for 31.52 lakh shares of the 51.70 lakh shares reserved for them. Retail investors bid for 4.20 crore shares of the 1.20 crore shares reserved for them. Employees bid for 81,600 shares of the seven lakh shares reserved for them. CDSL has priced its initial public offering, aimed at raising up to Rs 524 crore, between Rs 145 to Rs 149 per equity share. The public issue of CDSL involves BSE, SBI, Bank of Baroda and Calcutta Stock Exchange as its existing shareholders offloading over 3.51 crore shares through the offer-for-sale (OFS) route. The net profit of the company declined 5% to `86.5 crore in FY17 on the back of net revenues of `146 crore. The company had reported a net revenue of `122.8 crore in FY16. The wage bill of the company witnessed an increase of 15.7% to `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 Private Limited, IDBI Capital Markets & Securities and YES Securities. CDSL offers services to depository participants and other capital market intermediaries, corporates, insurance companies,\u00a0 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 `18.3 trillion; 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\u2019s 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.