CDSL's Rs 524-cr IPO a massive hit; gets oversubscribed 170 times

The price band for the CDSL IPO was Rs 145 to Rs 149 per share

The Rs 525-crore Initial Public Offer (IPO) of Central Depository Services (CDSL) saw a whopping 170 times more demand than shares on offer. The issue generated demand worth nearly Rs 63,000 crore. The issue was one of the most oversubscribed in recent times. Recent IPOs such as Avenue Supermarts, operator of DMart Chain, was subscribed 104 times, while that of state-owned Hudco saw nearly 80 times subscription.

Market players said in CDLS’s stable earnings growth, attractive valuations and return on equity attracted lot of investors towards the IPO, which saw nearly 1.8 million applications.

The institutional investor portion of the