1 crore shares or 9.6% of the total equity of Central Depository Services Ltd. (CDSL) changed hands in a block deal on the Bombay Stock Exchange.
Shares changed hands at an average price of ₹1,690 per share, implying a total transaction value of ₹1,722 crore.
CNBC-TV18 had reported on Tuesday that Standard Chartered Bank - Corporate Banking intends to sell its entire 7.18% stake via the block deal. The floor price of ₹1,672 per share is a 6.3% discount to CDSL's closing price on Tuesday.
Standard Chartered Bank - Corporate Banking has been holding its 75 lakh shares or 7.18% of the total equity of CDSL since its IPO, as per the company's RHP document.
As per the December quarter shareholding pattern, India's Mutual Funds have a 12.95% stake in CDSL with prominent names like Parag Parikh Flexi Cap Fund, Invesco India Focused 20, PGIM India and Nippon Life having a stake in excess of 1%.
Shares of CDSL are trading 5.5% lower at ₹1,691. The stock had made its stock market debut in 2017 at an IPO price of ₹149. The stock is up over 10x from its IPO price. The stock has gained 85% over the last 12 months.
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