Published: Mon, June 19, 2017
Markets | By Noel Gibbs

CDSL IPO fully subscribed on Day 1

CDSL IPO fully subscribed on Day 1

According to Motilal Oswal Securities Ltd, at Rs 149 a share, the offer is valued at 18.2 times FY17 earnings per share (EPS), which is attractive due to its strong parentage, stable earnings growth, strong margins and decent return on equity of 17% in FY17.

The offering was scheduled to raise Rs. 524 crore, reports said. Investors can subscribe the IPO in lot of sizes of 100 shares.

Kuwait's ruler calls for Gulf unity to heal Qatar rift
The minister said Qatar's rivals were "betting on time ", but said a solution could not be brokered until it abandoned its support for "extremist Islamists".

50% of the issue will be offered to qualified institutional buyers (QIB), 15% to non-institutional investors (NII) and remaining 35% to retail individual investors (RII).
The IPO will close two days later.

CDSL has raised Rs 154.06 crore from anchor investors by selling 1.03 crore shares. The Bombay Stock Exchange is set to reduce its stake in CDSL from the current 50 per cent to 24 per cent through an offer for sale (OFS).

May inches toward deal to stay in power
Sinn Fein reduced the margin to just one seat, winning 27 assembly seats, just one less than the 28 won by the DUP . But Ms Clancy pointed out that the reasons Sinn Fein withdrew from talks have yet to be addressed.

Through this IPO, its existing promoter Bombay Stock Exchange (BSE) is selling 3.52 crore shares to public due to which its stake in CDSL will reduce to 24 per cent from 50.1 per cent now. However, the scenario is changing gradually and this is a big positive for players like CDSL. CDSL works in a different business model.

The company has seen its revenues grow at a CAGR of 3.67% over the past four years with the revenue in FY2016 being Rs 139.4 crore. Out of the Rs 74.1 crore, it earned previous year, CDSL paid a total of Rs 31.4 crore in the form of dividends.

Trump Adopts Harder Line On Cuba
It seeks to force Cuba to hold free and fair elections, release political prisoners, and allow political and religious freedom. Cafe Versailles, in the heart of Miami's "little Havana", may not be the heartbeat for the Cuban-American movement in the U.S.

Like this: