CDSL makes stellar debut on NSE, jumps 68%; HNIs cheer
By Amit Mudgill
NEW DELHI: Central Depository Services (India) (CDSL) on Friday made a stellar debut on NSE, as the scrip got listed at Rs 250, a premium of 67.79 per cent over its issue price of Rs 149 apiece.
CDSL’s IPO received a spectacular 170-times oversubscription last week, eclipsing solid responses to the issues of D-Mart, Hudco and S Chand.
The Rs 3.51 crore share issue, which was sold during June 19-21, was subscribed 170.19 times, with the qualified institutional buyers (QIBs) portion getting 148.71 times oversubscription, while non-institutional investors and retail investors categories received bids 563.03 times and 23.83 times, respectively, of their respective quotas.
It has been seen that IPOs that have received over 100 per cent subscription from non-institutional investor (NII) or HNI category have offered better rewards to investors at least on the listing day, with eight of the 39 such issues doubling investor wealth in debut trade in last one decade.
High net-worth individuals (HNIs), who borrowed to invest in the initial public offering of the BSE-promoted CDSL, need the stock to list at a 65-76 per cent premium above its issue price of Rs 149 per share in order to be able to make decent profit.
Haitong Securities India, IDBI Capital Markets and Securities and YES Securities (India) were the book running lead managers to the issue.
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Via:: Economic Times – Stocks