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Bumper Listing: Central Depository Services Shows Overwhelming Debut; Zooms 80%

Central Depository Services (CDSL) shares debuted with 68 percent gains on the National Stock Exchange Friday, 30th June 2017. The share price opened at Rs 250 against the issue price of Rs 149.

The bumper listing was on expected lines as the issue has overwhelming response, oversubscribing 170 times. The grey market premium also indicated the strong listing.

At 10:04 am, the stock price was trading at Rs 264.80, up 77.7 percent, with volume of 1.5 crore shares after hitting a high of Rs 268 in morning trade.

It is the second blockbuster listing in 2017. Avenue Supermarts, the owner of retail chain D-Mart, shot up more than 100 percent on listing day while BSE Limited (the promoter of CDSL), Music Broadcast and HUDCO debuted with 22-35 percent gains.

CDSL shares are listed only on the National Stock Exchange but not on Bombay Stock Exchange (BSE) as it is the promoter of CDSL with 24 percent stake. The BSE Limited reduced its stake in the securities depository by 26 percent from 50 percent, which is in line with SEBI’s ownership rules.

The Rs 524-crore initial public offering of CDSL, the first by a securities depository firm in India, was opened for subscription during June 19-21.

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