Shares of CDSL fell 6% as Standard Chartered most likely withdrew from the Rs 1,250 crore block sale

Standard Chartered Bank Sells Entire Stake in CDSL

Standard Chartered Bank offered to sell its entire 7.18% stake at Rs 1,672 per share, which is the floor price.

On Wednesday, shares of Central Depository Services Ltd (CDSL) fell down to 6.4% amid news of a large block deal.

A Brief Overview about CDSL

Facilitates holding of securities in electronic form alongside National Securities Depository Ltd (NSDL).

Established in 1999 by BSE and several banks, including State Bank of India and Bank of Baroda.

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Significance of the Block Deal

Confirmation is awaited from exchanges in the evening when block deal data is released.

Estimated deal size worth Rs 1,250 crore at floor price.

CDSL's Financials and Shareholder Composition

Foreign portfolio investors hold over 10% of the company, insurance companies about 8%, and mutual funds nearly 13%.

Reported a consolidated net profit of Rs 107 crore for the quarter ended December.

CDSL's Milestones and Services

Provides various services to financial intermediaries and markets through subsidiaries like CDSL Ventures and CDSL Insurance Repository Ltd.

First depository to register 10 crore Demat accounts in November last year.

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