CDSL to launch Rs 524-cr IPO on June 19

Promoter BSE to offer 26% stake to comply with Sebi requirements

Central Depository Services India (CDSL) will launch its much-awaited initial public offering (IPO) on June 19. Promoter BSE will sell 26 per cent stake in the depository via the IPO to comply with the shareholding requirement imposed by markets regulator Securities and Exchange Board of India (Sebi).

The exchange currently holds 50.05 per cent stake in CDSL. To meet Sebi norms, it had to bring down its holding to 24 per cent by March 31, 2017. Sebi, however, has extended the deadline till June 30. CDSL’s Rs 524-crore IPO will close on June 21 and the listing will take place before