BSE IPO to hit the markets soon

The year 2016 is the year of IPOs with several quality issues hitting the Indian stock markets. The feather in the cap for the primary markets in India will be the IPO of the leading stock exchange in India – BSE.

Long pending IPO of the BSE could well be a reality in the coming couple of months as the fastest stock exchange in the world – BSE is targeting to file draft of the IPO with capital markets regulator SEBI by early next month.

Through its IPO, BSE is looking to raise about Rs 800 crore from its initial share -sale programme. The entire share sale is expected to be an offer for sale (OFS). As per media reports the exchange plans to file for IPO with SEBI in early September.

SEBI has already given an in-principle approval for the listing of shares for the oldest stock exchange in Asia. BSE plans to sell up to 30 per cent stake in IPO. BSE has 9,283 shareholder as on date, comprising of brokers and institutions. Edelweiss Financial Services will be the lead manager for the issue whereas AZB & Partners and Nishith Desai Associates will be the legal advisers to the IPO.

SEBI to facilitate the IPO listing for the bourses had made amendments in the regulations in the month of January -16. Post amendments in the listing regulations BSE sought approval for listing.