BSE to offload 2.5% stake in CDSL via OFS route
1 min read . Updated: 07 Feb 2023, 08:15 PM IST
Premium- The BSE Board has approves divestment of 2.5% equity shares in CDSL via OFS
Leading bourse Bombay Stock Exchange (BSE) on Tuesday said it will offload 2.5% stake in Central Depository Services (India) Ltd. The stake sale will be carried out through offer for sale (OFS) route.
Shares of CDSL closed 0.73% lower at ₹1,002.50 apiece on the NSE on Tuesday.
CDSL is one of the two depositories in India and the only listed one in the country, the other being National Securities Depository Limited (NSDL). It facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges. Whereas, BSE is the oldest and India's first equity index launched in the country.
The BSE board has also approved the third quarter financial results apart from the divestment decision.
The country's oldest stock exchange has reported a 16 per cent decline in net profit to ₹51.6 crore in three months ended December 2022.
In comparison, the exchange had posted a net profit of ₹61.3 crore in the year-ago period, BSE said in a statement.
However, the bourse's revenue from operations grew 6 per cent to ₹204 crore in the quarter under review from ₹192.8 crore in the October-December quarter of the preceding fiscal 2021-22.
"Overall, BSE reported a sustained third quarter result amidst a difficult market environment. 2022 was a period of transition for the BSE, and as we embark on a new journey in the new Financial Year, I believe that a balanced business model will enable us to grow much higher," Sundararaman Ramamurthy, MD and CEO of BSE, said.
