Mumbai: The much-awaited IPO from Asia’s oldest stock exchange BSE Ltd will be opened for public subscription next week.
This is the first time a stock exchange in India is offering its share to the general public through an IPO after the Sebi amended its rules allowing bourses to get listed on a recognised stock exchange.
The exchange plans to raise about Rs 1,243 crore at the upper end of the price band of Rs 805 – Rs 806 per equity share. The IPO will open on January 23 and close on January 25.
The shares issued through the public offer will be listed only on the NSE as self-listing is not permitted under the current regulations. This is to avoid any conflict of interest since the stock exchanges act as the first line regulator in the securities market.
The IPO will see some of BSE’s existing shareholders selling about 15.42 million shares through offer for sale. They include Acacia Banyan Partners, Singapore Stock Exchange, GKFF Ventures, and Caldwell India Holding among others.
Lot of global as well as domestic institutional and individual investors had picked up stake in the BSE when it was demutualised in 2007 to segregate the ownership and management of the exchange from the trading rights of its members.
