CDSL IPO subscribed two times on first day

The Rs 525-crore Initial Public Offer (IPO) of Central Depository Services (CDSL) was subscribed over two times on Monday, the first day of the issue. Both retail and institutional investor portion of the issue were oversubscribed. 

The IPO has so far received bids for 51 million shares for the 24.8 million shares on offer. 

CDSL on Friday had raised Rs 154.1 crore from anchor investors. The depository firm’s IPO will remain open till Wednesday. 

The price band for the issue is Rs 145 to Rs 149 per share. The IPO entirely comprises of secondary share sale with existing shareholders BSE, State Bank of India, Bank of Baroda and Calcutta Stock Exchange selling their 26 per cent, 4.57 per cent, 2.08 per cent and 0.96 per cent stake, respectively.