Standard Chartered Bank may sell 75 lakh CDSL shares through block deal route: Report
The UK-based bank will likely sell 75 lakh CDSL shares through the block deal at a floor price of Rs 1,672 per share, Zee Business reported quoting Bloomberg.
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British multinational lender Standard Chartered Bank is likely to offload 75 lakh shares in Central Depository Services Ltd (CDSL), India’s largest securities depository, for $151 million (Rs 1,258 crore at $1 = Rs 83.28) through a block deal on Wednesday, Zee Business reported quoting news agency Bloomberg.
The block deal is likely at a floor price of Rs 1,672 per share, according to the report.
The floor price implies a discount of 6.3 per cent to the market price of CDSL shares.
The CDSL stock ended 0.1 per cent lower at Rs 1,785 per share on NSE on Tuesday.
As of the quarter ended December 31, 2023, Standard Chartered held 75 lakh shares in CDSL, equivalent to 7.18 per cent of the depository’s equity.
What does CDSL do?
Incorporated in 1997, Central Depository Services (India) Limited is a publicly listed company engaged in the business of investment services.
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