Bombay Stock Exchange (BSE), one of India’s leading bourses, has announced its plans to sell a 2.5% stake in Central Depository Services (India) Ltd.
The sale will be conducted through the offer for sale (OFS) route. CDSL, the only listed depository in India, facilitates electronic holding and transactions in securities, as well as trade settlement on stock exchanges.
On Tuesday, shares of CDSL closed at ₹1,002.50, down 0.73% on the NSE. BSE, the oldest stock exchange in India, has reported a 16% decline in net profit to ₹51.6 crore in the Q3 of 2022. However, the bourse’s revenue from operations saw a 6% growth to ₹204 crore in the same period.
BSE CEO Sundararaman Ramamurthy stated that despite a difficult market environment, the bourse has sustained its Q3 results. He believes that a balanced business model will enable the exchange to grow higher in the new financial year.
In addition to the divestment decision, the BSE board has also approved the Q3 financial results. BSE, established in 1875, remains a leading equity index in India.
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