New Delhi: Leading stock exchange BSE on Wednesday divested a 4.5 percent stake in Central Depository Services Ltd for Rs 468 crore through an open market transaction. Central Depository Services (India) Ltd (CDSL) is the only listed depository in the country that facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on the bourses.
According to the bulk deal data available with the National Stock Exchange (NSE), BSE offloaded 47,44,000 shares, amounting to a 4.5 percent stake in CDSL. The shares were disposed of at an average price of Rs 985.98 apiece, taking the transaction value to Rs 467.74 crore.
CDSL got listed on the exchange in 2017. Through the IPO, the BSE, which had a 50.05 percent stake in CDSL, trimmed its shareholding in the depository, to meet markets regulator Sebi norms. Under Sebi regulations, a stock exchange cannot have more than a 24 percent stake in a depository.
In February this year, BSE sold 2.5 percent stake in CDSL through an offer for sale (OFS) route. On Wednesday, shares of CDSL fell by 2.86 percent to close at Rs 1,017.80 per piece on the NSE.
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