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BSE sells 4.15% stake in CDSL

Press Trust of India  |  New Delhi 

Leading bourse has sold 4.15 per cent stake in Central Depositor Services Limited (CDSL) for a little over Rs 34 crore.

The exchange has pared its stake in the depository to comply with the capital markets regulator norms under which a stock exchange cannot have more than 24 per cent in a depository.

"concluded sale of 43,36,750 shares amounting to 4.15 per cent of of Rs 78.93 per share aggregating to Rs 34.23 crore on October 14, 2016," the exchange said in a statement.

Following the transaction, BSE's stake will come down to 50.05 per cent.

allows investors to deposit securities by opening an account. The securities such as shares, debentures, bonds of investors are held in electronic form (dematerialised form) at the depositories. It has a little over 1.02 crore investor accounts.

Apart from BSE, other shareholders in are Bank of India, Bank of Baroda, State Bank of India, Bank, Canara Bank, Standard Chartered Bank, Union Bank of India, and Calcutta Stock Exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 21:13 IST