BSE Sells 4.15% Stake In Central Depository Services
Leading bourse BSE has sold 4.15 percent stake in Central Depositor Services India Ltd. (CDSL) for a little over Rs 34 crore.
The exchange has pared its stake in the depository to comply with the capital markets regulator SEBI norms under which a stock exchange cannot have more than 24 percent in a depository.
BSE concluded sale of 43,36,750 shares amounting to 4.15 percent of CDSL of Rs 78.93 per share aggregating to Rs 34.23 crore on October 14, 2016BSE Statement
Following the transaction, BSE's stake will come down to 50.05 percent.
CDSL allows investors to deposit securities by opening an account. The securities such as shares, debentures, bonds of investors are held in electronic form (dematerialised form) at the depositories. It has a little over 1.02 crore investor accounts.
Apart from BSE, other shareholders in CDSL are Bank of India, Bank of Baroda, State Bank of India, HDFC Bank, Canara Bank, Standard Chartered Bank, Union Bank of India, Bank of Maharashtra and Calcutta Stock Exchange.