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Central Depository Services (India) Ltd is the second largest depository in India in terms of market share.

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The company is coming out with a maiden IPO of 35167208 equity share of Rs. 10 each as offer for sale through book building route. It has fixed the price band of Rs. 145-149 and likely to mobilize Rs. 509.93-523.99 crore based on lower and upper price band. Issue opens for subscription on 19.06.17 and will close on 21.06.17. Minimum application is to be made for 100 shares and in multiples thereon, thereafter. It has reserved 700000 equity shares for eligible employees and from the rest; it has reserved 50% for QIBs, 15% for HNIs and 35% for retail category. The offer shall constitute up to 33.65% of the fully diluted post offer paid up equity share capital. Post allotment, shares will be listed only on NSE. Through this offer, CDSL is providing exit route to its current stake holders and also to explore listing benefits. BRLMs to this issue are Axis Capital Ltd, Edelweiss Financial Services Ltd, Nomura Financial Advisory & Securities (India) Pvt. Ltd, SBI Capital Markets Ltd, Haitong Securities Indi) Pvt. Ltd., IDBI Capital Markets & Securities Ltd, Yes Securities (India) Ltd. Link Intime India Pvt. Ltd. is the registrar to the issue.
On performance front, CDSL has (on consolidated basis) reported total income/ net profits of Rs. 145.47 cr. / Rs. 57.49 cr. (FY15), Rs.161.34 cr. / Rs. 90.99 cr. (FY16) and Rs. 186.85 cr. / Rs. 85.78 cr. (FY17). This issue being offer for sale, its paid up equity remains at the same level of Rs. 104.50 cr. (Entire equity is issued at par). BSE Ltd that holds 50.05% of the paid up equity in CDSL will reduce its holding to 24% post this offer. It has posted an average EPS of Rs. 7.93 (on consolidated basis) with an average RoNW at 16.68% for last three fiscals. It has no listed peer to compare with. The asking price at the upper band is at a P/E of 18 plus and at a P/BV of 2.92 which appears reasonable

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