New Delhi: The initial public offering (IPO) of Central Depository Services (India) Ltd (CDSL) was oversubscribed 7.55 times on the second day of bidding on Tuesday, helped by strong investor response. The IPO, to raise Rs524 crore, received bids for 18,75,67,500 shares against the total issue size of 2,48,27,046 shares, data available with the National Stock Exchange (NSE) showed.

The category reserved for qualified institutional buyers (QIBs) was oversubscribed 6.54 times, while the same reserved for non-institutional investors and retail investors were subscribed 3.36 and 10.32 times, respectively.

Last Friday, CDSL raised Rs154.07 crore from 15 anchor investors. The price band for the share sale has been fixed at Rs145-149.

Through the offer, which closes on Wednesday, CDSL’s promoter and leading stock exchange BSE plans to sell 3.51 crore shares.

The book running lead managers to the offer are Haitong Securities India Pvt. Ltd, IDBI Capital Markets and Securities Ltd and YES Securities (India) Ltd. CDSL is the second largest depository in the country.

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