BSE sells 5% stake in CDSL to comply with Sebi norms

BSE has sold a 4.54% stake in Central Depository Services (India) (CDSL) through a block deal worth INR468cr ($63m) to comply with market regulator Sebi norms which state a stock exchange is only allowed to hold a 15% stake in a depository. BSE previously held a 20% stake in CDSL. In the IPO for CDSL in 2017, BSE sold 26.05% of its previous 50.05% stake, and shares of CDSL have since gained 4% in the last three months, compared to BSE shares’ rise of nearly 29%.

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