The first listing of a securities depository on an Indian stock exchange has made the process significantly smoother for similar issuers.
Central Depository Services’ (CDSL) $80 million offering on the Bombay Stock Exchange (BSE) prompted the securities regulator to clarify the scope of the listing rules.
Local press reported that the retail offering was the most oversubscribed maiden issuance in over a decade, making it the fourth-largest offering ever in terms of oversubscription.
Lionel D’Almeida, partner at AZB & Partners in Mumbai, said that other depositories undertaking an initial public offering (IPO) will benefit from the clarifications provided by the Securities and Exchange Board of India (Sebi).
The most difficult part of...