CDSL IPO Sees Bumper Investor Demand, Oversubscribed 170 Times

New Delhi: The initial public offer of Central Depository Services (India) Ltd (CDSL) received overwhelming response from investors as the issue was oversubscribed 169.91 times on the last day of the three-day bidding on Thursday.

The IPO of BSE's depository arm, to raise Rs 524 crore, received bids for over 421 crore shares against the total issue size of 2.48 crore shares, as per NSE data till 2000 hours on 21st June. The offer has generated demands worth nearly Rs 63,000 crore, excluding the anchor portion of Rs 154.07 crore that was already allocated to investors. The category reserved for Qualified Institutional Buyers (QIBs) was oversubscribed 148.71 times, non institutional investors 563 times and retail investors 22.98 times, sources said.

The issue has received about 17.72 lakh applications. CDSL on Friday raised Rs 154.07 crore from 15 anchor investors. The price band for the share sale has been fixed at Rs 145-149. The IPO size is of 3.51 crore shares, including anchor portion of 1 crore shares. The book running lead managers to the offer are Haitong Securities India Pvt Ltd, IDBI Capital Markets and Securities Ltd and YES Securities (India) Ltd. Earlier this year, D-Mart parent Avenue Supermarts IPO was oversubscribed 104.48 times. Last year, staffing firm Quess Corp's IPO was oversubscribed 145 times.