Standard Chartered Bank has announced its decision to divest its complete 7.18% stake in Central Depository Services (India) Ltd (CDSL) through a block deal, signaling a strategic move in the financial market.
Reports suggest that the British multinational bank is planning to offload its 7.5 million shares at a floor price of Rs 1,672 per share, totaling an estimated $151 million.
The news of the potential stake sale sent shockwaves through the investor community, with market analysts closely monitoring the development.
HDFC Institutional Equities, a leading financial research firm, had previously shared insights on the growth prospects of CDSL and the evolving trends in India’s depository services industry.
Additionally, subsidiaries of CDSL including CDSL Ventures Limited, CDSL Insurance Repository Limited, and CDSL Commodity Repository Limited play crucial roles in enhancing the company’s service offerings to financial intermediaries and markets.
JP Morgan India Private Limited has been tasked with overseeing the selling process of Standard Chartered Bank’s stake in CDSL, further highlighting the significance of the divestment.
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