The initial public offering (IPO) of Central Depository Services (India) Ltd (CDSL) was oversubscribed 2 times on the first day of the three-day bidding process today. The IPO, to raise Rs 524 crore, received bids for 5,19,72,200 shares against the total issue size of 2,48,27,046 shares, as per NSE's data till 1700 hours. The category reserved for qualified institutional buyers (QIBs) was subscribed 97 per cent and non institutional investors, 61 per cent. Retail investors portion was oversubscribed 3.48 times. 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. Through the offer, which closes on June 21, CDSL's promoter and leading stock exchange BSE plans to sell 3.51 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. CDSL is the second largest depository in the country.
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