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Central Depository Services
Leading depository CDSL on Saturday said its net profit doubled to Rs 129 crore for the three months ended March 2024. It had posted a net profit of Rs 63 crore in the same quarter a year ago, Central Depository Services (India) Ltd (CDSL) said in a statement. Total income rose 86 per cent to Rs 267 crore in March quarter 2023-24 from Rs 144 crore in the year-ago period. For entire financial year 2023-24, the depository clocked a net profit of Rs 420 crore, marking a surge of 52 per cent from the preceding year. Total income stood at Rs 907 crore in FY24, a growth of 46 per cent. CDSL had over 11.56 crore demat accounts in March this year. "We remain committed to empowering market participants with digital services like ASBA, e-AGM, eDIS, and Margin pledge mechanism. These tools enhance capital market efficiency and security, and our sustained business and financial growth is a result of the trust placed in us by the stakeholders of the capital markets," Nehal Vora, MD & CEO ...
Markets regulator Sebi on Thursday streamlined the reporting requirements for designated depository participants and custodians. The decision has been taken after reviewing various reports submitted by the Designated Depository Participants (DDPs) and custodians in order to have uniform compliance standards, for ease of compliance reporting and for regulatory purposes. In a circular, the Securities and Exchange Board of India (Sebi) said that reports about Foreign Portfolio Investors (FPIs) non-compliant with legal entity identifier requirements and FPIs who have not submitted granular beneficial ownership details should be submitted on a quarterly basis. Various other reports also need to be submitted to the regulator. Sebi has provided the reporting requirements along with periodicity in the circular. The reports should be on monthly, quarterly, half-yearly and annual basis as specified by the regulator. "The monthly and quarterly reports shall be uploaded within 15 calendar d
Central Depository Services (CDSL), which is the only publicly traded depository in Asia, on Monday reported a marginal 4 per cent on-year growth in net income at Rs 92 crore in the April-June quarter. Total income of the city-based company, which was also the first in the category to go public, rose 8 per cent on-year to Rs 170 crore during the reporting quarter. On a consolidated basis, income rose 19 per cent to Rs 174 crore, fetching it a net income of Rs 74 crore, which was more than 28 per cent over the trailing 12 months period, the company said in a statement. The 25-year-old company became the first depository to register over 9 crore demat accounts in July 2023, up from 8.82 crore at end June -- an addition of around 52 lakh accounts in Q1, said Nehal Vora, managing director and chief executive. CDSL along with its subsidiaries provides a host of services to the financial intermediaries and markets, which include CDSL Ventures offering KYC registration for share registrat
Central Depository Services (CDSL) will file the needed documents this month for an Initial Public Offer (IPO) of equity.It will the second market infrastructure institution (MII) after BSE Ltd to file for an IPO this year. Set up by in 1999 by the BSE exchange, CDSL facilitates holding of securities in electronic form, one of only two depositories in the country. The other is the National Stock Exchange-promoted NSDL, market leader in the segment.CDSL's public issue will be entirely an offer for sale, with BSE diluting a large chunk of its holding, to comply with regulatory norms. HDFC Bank and some state-owned banks will also pare their holdings in the MII through the offering, said three people with knowledge of the development.CDSL is eyeing a valuation between Rs 1,200 and Rs 1,500 crore, sources said.BSE currently owns 50 per cent stake in CDSL and will dilute around 26 per cent in the IPO. The bourse, through a postal ballot, had sought approval of its shareholders for the ...