Big bourse stellar listing gains
DSIJ Intelligence / 03 Feb 2017
Asia's largest stock exchange, BSE lists at premium of 34.62 per cent at Rs 1,085 in pre-opening session. After pre-opening session, BSE is trading at Rs 1,164 with a gain of almost 45 per cent in an intraday basis.
Asia's largest stock exchange, BSE lists at premium of 34.62 per cent at Rs 1,085 in pre-opening session. After pre-opening session, BSE is trading at Rs 1,164 with a gain of almost 45 per cent in an intraday basis. The stock exchange had set the price band for the initial public offer (IPO) for sale at Rs 805-806 per share.
The BSE's IPO was oversubscribed 51.15 times on the last day of the offering. The bourse has raised about Rs 1,243 crore. 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 closing of the bidding.
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 has 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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