Aiming to tap the upbeat investor sentiment, two companies – CDSL and GTPL Hathway – will launch initial public offers…
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Aiming to tap the upbeat investor sentiment, two companies – CDSL and GTPL Hathway – will launch initial public offers (IPOs) this week to raise over Rs.1,000 crore.
The bidding in BSE-promoted CDSL's IPO will begin on June 19 and close on June 21, while that of GTPL Hathway, part of Hathway Cable and Datacom Ltd, will be open for public subscription from June 21-23.
The IPO of Central Depository Services (India) Ltd's involves its shareholders, including BSE, offloading over 3.5 crore shares through the offer-for-sale (OFS) route. It has fixed a price band of Rs 145-149.
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At the higher end of the price band, the shares are estimated to fetch around Rs 524 crore.
Leading stock exchange BSE, which holds 50.05 per cent stake in CDSL, will offload 2.72 crore shares representing 26.05 per cent holding in the depository to meet with Sebi norms.
Under the regulations, a stock exchange cannot have more than 24 per cent in a depository.
State Bank of India (SBI), Bank of Baroda, The Calcutta Stock Exchange, are other CDSL shareholders which will offload shares through the IPO.
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