CDSL shares plunge 6% amid high turnover; Standard Chartered Bank likely seller

Standard Chartered Bank was reportedly looking to offload its entire 7.18 per cent stake in the depository via block deal today.

The floor price for the transaction, as per the media report, was set at Rs 1,672 per share and the deal size was estimated at $151 million. Business Today could not independently verify the report.

Following the development, the NSE-listed stock fell 6.36 per cent to hit a low of Rs 1,675. The stock is still up 86 per cent in the last one year.

Standard Chartered Bank was said to have put 75 lakh shares on block and the floor price was at 6 per cent discount to Wednesday’s closing price. CDSL shares ended at Rs 1,785 on NSE, down 0.13 per cent. The listed depository offers facilitates holding and transacting securities in the electronic form and settlement of trades on stock exchanges. CDSL maintains and services 10 crore-plus demat accounts of investors or beneficial owners (BOs) spread across India.