Bumper listing: CDSL lists at over Rs 250 per share
Central Depository Services Ltd (CDSL) listed at a premium of over Rs 100 at the Indian stock markets on Friday after it listed at Rs 252 per share.
Pre-market discovery price of CDSL Ltd stood at Rs 250 per share as against issue price of Rs 145-149 per share.
CDSL's shares were oversubscribed by nearly 170 times as the company looked to raise Rs 524 crore.
The issue consists entirely offer for sale which involves 33.7% stake of shareholders including 26.1% of BSE, 1% of Calcutta Stock Exchange, 2.1% of Bank of Baroda and 4.6% will be sold of State Bank of India.
The company's IPO subscription has surpassed Avenue Supermarts, which was oversubscribed by 104.5 times during its IPO in March this year.
Payal Pandya and Siddhartha Khemka, analysts at Centrum Wealth Research said, “Given the current decent financials such as high margins, healthy return ratios, free cash flow generation and strong balance sheet, the issue may attract good subscription in the current market scenario where there is lot of buying interest in primary as well as secondary offerings.”