BSE IPO gets Sebi nod; may raise Rs 1,500 crore

Industry:    January, 2017
Paving the way for BSE’s initial public offering (IPO) launch, the Securities and Exchange Board of India (Sebi) has given its final go-ahead to the draft prospectus for the estimated Rs 1,500-crore IPO by Asia’s oldest exchange.

The much-awaited IPO will see sale of 29,955,434 shares by the existing shareholders through the offer for sale (OFS) route. This works out to close to 30 percent of the total holding.

Among the existing shareholders are Bajaj Holdings Investment, Caldwell India Holdings, Acacia Banyan Partners, Singapore Exchange, Mauritius-based arms of American investor George Soros’ Quantum Fund and foreign fund Atticus.

Sources said the shares could be offered at a price of as high as Rs 500 each, giving the IPO a size of up to Rs 1,500 crore. Even at the lower end of the band, the IPO should be worth about Rs 1,200-1,300 crore, they added.
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