Standard Chartered Bank Divests Entire Stake in CDSL for Rs 1,266 Crore

In a significant move within the Indian financial sector, Standard Chartered Bank executed a substantial transaction by selling its entire 7.18 per cent stake in Central Depository Services India Ltd (CDSL) for Rs 1,266 crore. This sale took place through an open market transaction on Wednesday, as per the data available with the National Stock Exchange (NSE). The bank offloaded 75 lakh shares of CDSL at an average price of Rs 1,688.64 each, culminating in a transaction value of Rs 1,266.48 crore.

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As of December 2023, Standard Chartered Bank was recorded to have held a 7.18 per cent stake in CDSL, according to shareholding data with the NSE. However, the details regarding the purchasers of CDSL's shares remain undisclosed. Following this transaction, shares of CDSL experienced a decline, dropping 5.58 per cent to close at Rs 1,689 apiece on the NSE.

In a related development in the hospitality sector, Equity International, through its affiliate company Blue Chandra Pte Ltd, divested a 4.7 per cent stake in Gurugram-based Samhi Hotels for Rs 209 crore. This transaction also occurred through an open market operation on the NSE. Blue Chandra Pte Ltd sold 1,01,73,756 shares at an average price of Rs 206.10 each, bringing the deal size to Rs 209.68 crore. The buyers included DNB Fund - Asian Small Cap, DNB Fund - India, Societe Generale, and TT Asia - Pacific Equity Fund.

Following this sale, shares of Samhi Hotels witnessed a slight decrease of 0.31 per cent to end at Rs 207.45 apiece on the NSE. Equity International has been a significant investor in Samhi Hotels since its first investment in 2011 and has remained one of its largest shareholders for most of the company's history. Notably, Blue Chandra Pte Ltd has sold approximately 50 per cent stake in Samhi Hotels in conjunction with its Initial Public Offering (IPO).

Samhi Hotels Ltd (SAMHI) is recognized as the third-largest hotel ownership and asset management platform in India. It operates several renowned brands including Courtyard by Marriott, Fairfield by Marriott, Hyatt Regency, Hyatt Place, Sheraton, and Holiday Inn Express by IHG. In September of the previous year, Samhi Hotels made an impressive debut on the NSE and BSE, with its shares closing nearly 16 per cent higher on both exchanges.

These transactions underscore the dynamic nature of India's financial and hospitality sectors, reflecting significant shifts in investment patterns and ownership stakes among leading entities.