Standard Chartered Bank’s corporate banking section is likely to sell its entire 7.18% stake via a block deal in Central Depository Services Ltd (CDSL), sources told CNBC-TV18.
The floor price for the transaction is set at ₹1,672 per share, with the deal size estimated at $151 million, the sources said.
CDSL is one of the two depositories in India and the only listed one in the country, the other one being National Securities Depository Limited (NSDL). It facilitates holding and transacting in securities in electronic form and facilitates settlement of trades on stock exchanges.
Shares of Central Depository Services (India) Ltd ended at ₹1,785, down by ₹2.35, or 0.13%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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