Voila, BSE IPO fully subscribed on second day

BSE's initial public offer, the first by a domestic stock exchange in India, was fully subscribed on the second day of the bidding process of an IPO. The bourse will be raising up to Rs 1243 crore. The IPO is closing on Wednesday, January 25.

The issue is oversubscribed by 1.0232 times. At the same time, retail investors have given good response as the retail portion was oversubscribed by 1.84 times. However, the QIB and NII categories were under-subscribed by 0.17 times and 0.24 times, respectively, till the second day till 1.30 p.m.

BSE IPO has received bids for 1,08,89,568 shares against the total issue size of 1,07,99,039 shares, according to the data available with the NSE. The stock exchange has given price band for offer for sale at Rs 805-806 per share.

In the initial public offering share sale, BSE’s almost 300 shareholders are selling 15.43 million shares at an estimated price of Rs 1243.44 crore at the higher end of the price band. The IPO will constitute up to 28.26 per cent of the fully-diluted post offer issued share capital of BSE.

The application for BSE issue can be made for a minimum of 18 shares and in multiples of 18 thereafter. On January 20, BSE had raised Rs 373 crore by allotting shares to anchor investors. BSE shares will be listed on NSE as Securities Exchanges Board of India (SEBI) rules do not allow self-listing for an exchange. Meanwhile, rival NSE too filed the draft prospectus with SEBI last month for an IPO estimated at Rs 10,000 crore.