BackBSE sells 4.15% stake in CDSL
BSE has pared its stake in CDSL to comply with Sebi norms under which a stock exchange cannot hold more than 24% in a depository
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New Delhi: Leading bourse BSE has sold 4.15% stake in the Central Depositor Services (India) Ltd (CDSL) for a little over Rs34 crore.
The exchange has pared its stake in the depository to comply with the capital markets regulator Securities and Exchange Board of Indian (Sebi) norms under which a stock exchange cannot have more than 24% in a depository.
“BSE concluded sale of 43,36,750 shares amounting to 4.15% of CDSL of Rs78.93 per share aggregating to Rs34.23 crore on 14 October 2016," the exchange said in a statement.
Following the transaction, BSE’s stake will come down to 50.05%. CDSL allows investors to deposit securities by opening an account. The securities such as shares, debentures, bonds of investors are held in electronic form (dematerialized 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.
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