Big bourse bang on massive response
DSIJ Intelligence / 26 Jan 2017
Asia's largest stock exchange BSE's initial public offer (IPO) was oversubscribed 51.15 times on the last day of offering. The bourse has raised about Rs 1,243 crore. The IPO bidding process closed Wednesday.
Asia's largest stock exchange BSE's initial public offer (IPO) was oversubscribed 51.15 times on the last day of offering. The bourse has raised about Rs 1,243 crore. The IPO bidding process closed on Wednesday.
The retail investors have given a good response as the retail portion was oversubscribed by 6.3 times. However, the qualified institutional buyer (QIB) and NII categories were oversubscribed by 48.64 times and 159.03 times, respectively, at the close of the last day.
According to the official sources of BSE, the BSE IPO has received bids 55,23,75,738 shares, as against the total issue size of 1,07,99,039 shares, till 7.45 pm. The stock exchange had given the price band for the offer for sale at Rs 805-806 per share.
On January 20, the BSE had raised Rs 373 crore by allotting shares to anchor investors. BSE shares will be listed on the NSE as Securities Exchanges Board of India (SEBI) rules do not allow self-listing for an exchange. Meanwhile, its rival NSE too filed the draft prospectus with SEBI last month for an IPO, the size of which is estimated at Rs 10,000 crore.
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