Tag: Central Depository Services

HDFC Bank divests over 2 per cent stake in CDSL for Rs 223 crore, BFSI News, ET BFSI

Banking & Finance

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HDFC Bank has divested more than 2 per cent stake in Central Depository Services (India) Ltd (CDSL) in tranches during June-August this year, garnering nearly Rs 223 crore from the sale, according to a regulatory filing. HDFC Bank sold 23,11,000 equity shares of face value of Rs 10 each fully paid up held by the bank in CDSL through the secondary market route on the NSE, the private bank said in the regulatory filing.

The divestment of 2.21 per cent stake in Central Depository Services (India) Ltd took place over a period from June 22 to August 24, 2021.

The bank sold 20,36,000 shares (1.95 per cent) of CDSL at an average price of Rs 937.46 per piece on June 22. On August 23, it sold 2,13,481 shares at Rs 1,168.94 apiece and on August 24, it sold 61,519 shares for Rs 1,119.31 apiece.

The shares were sold for a cash consideration of Rs 222.71 crore, HDFC Bank said.

CDSL provides depository services to market participants. It has three operating services: depository, data entry and record keeping of KYC documents of capital market investors, and repository.

Repository provides policyholders and warehouse receipt holders the facility to keep insurance policies and warehouse receipts in electronic form, as well as to undertake changes, modifications and revisions in it.



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CDSL becomes the first depository to open 4- crore active Demat accounts, BFSI News, ET BFSI

Personal Finance

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Central Depository Services (India) Limited (CDSL), India’s leading and only listed depository, has announced the first depository to open Four crores plus (40 million) active Demat accounts.

CDSL is currently the largest depository in the country in terms of active Demat accounts.

CDSL facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.

CDSL has an objective of delivering quality services and innovative products. Since the financial services industry has become increasingly IT-reliant, CDSL is adopting technology as a part of its strategic vision. Major shareholders of CDSL include BSE, Canara Bank, HDFC Bank, LIC and Standard Chartered Bank.

Nehal Vora, CEO of CDSL said “I will firstly congratulate SEBI – the capital market regulator for being the visionary leader that guided us to this digital growth and safe ecosystem. It is their foresight that transited the long Demat account opening procedure into an easy digital experience without compromising on the necessary controls. Our milestones are a result of the hard work and coordination of all the market infrastructure institutions and the market intermediaries. I wish to thank the investors for choosing CDSL to be their depository. I would like to thank all the participants of the capital market for their contribution in accelerating the digital and financial growth of India.”

This journey of financial inclusion has to enhance to engage with a higher number of persons to foray into the securities market to achieve the objective to make India a capital market hub that is highly focused on corporate governance, technology, investor protection, transparency, and sustainability.

Further, CDSL will continue to provide services for the progress of the securities markets, for the valued investors in line with our vision of “Empowering the Atma-nirbhar Niveshak” through our digital services.”



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