BSE filed the draft red-herring prospectus (DRHP) for its IPO with
securities market regulator SEBI on Friday Sep 09,2016, paving the way for a listing
on rival stock exchange NSE.
SEBI regulations mandate that exchanges cannot list themselves.
According to the offer document, BSE has received an in-principle
approval from the NSE to list its shares.
Singapore Exchange Ltd, Acacia Mauritius Ltd and Quantum (M) have offered their entire stake for sale in the offer for sale.
A stake of up to 30 per cent in the BSE will sold through the IPO to raise about ₹1,300 crore.
Interestingly, DIIs (domestic institutional investors) such as SBI and
LIC are not selling even a single share of BSE Ltd though they figure in
the list of top 10 shareholders.
Harishchand Betala is no ordinary shareholder. Among the 262
shareholders selling their stake in the BSE, he is the one who has
offered to sell the least number of shares.
Betala has offered to sell 150 shares in Asia’s oldest bourse, BSE Ltd,
even as other shareholders will sell over 2.9 crore shares, of face
value ₹1 each.
Note
Founded on July 9, 1875, BSE is the world’s 11th largest exchange by
market capitalisation ($1.52 trillion) of listed companies besides being
the largest in terms of the number of listed companies.
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