BSE set to Offer an IPO with SEBI Most Awaited IPO in India

BSE IPO: Asia’s Oldest Stock Exchange BSE is further movie closer to become Public Listed Exchange. BSE just Drafted Papers with Indian Markets regulator SEBI (Securities and Exchange Board of India).


BSE is Planning to Raise INR 1,200 to 1,300 Crore through its IPO (Initial Public Offering).

Most Awaited public offer of BSE is expected to be entirely an OFS by the existing shareholders. The exchange BSE has filed IPO papers with SEBI and shares worth over Rs.1,200-1,300 crore could be sold in the public offer.

The (BODs) board of directors, at its meeting on Wednesday, approved the draft red herring prospectus (DRHP).

While rival NSE has announced IPO plans, BSE has taken the lead by filing the draft papers. BSE – earlier known as the Bombay Stock Exchange – had received in-principle approval from SEBI earlier this year to list its shares.

The BSE had set up an escrow account wherein the shareholders can tender shares for the OFS. As on date, the exchange has over 9,000 shareholders, including brokers and institutions.

BSE has appointed Edelweiss Financial Services the lead merchant banker and AZB & Partners and Nishith Desai Associates legal advisors to the IPO. BSE reported a 40 per cent increase in its consolidated net profit at Rs.52.72 crore for the quarter ended June 2016.

The exchange received robust response for the proposed OFS (Offer for Sale) from the shareholders who have offered to tender an estimated three crore shares. The shares not sold in the OFS will be locked in for a year from the date of allotment of shares in the IPO.

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