New Delhi : Gearing up to launch its much-awaited IPO, Asia’s oldest bourse BSE today filed draft papers with market regulator Sebi for the public issue of shares worth up to Rs 1,500 crore.
Among existing shareholders, Singapore Exchange, as also Mauritius-based arms of American investor George Soros’ Quantum Fund and foreign fund Atticus, will sell their entire shareholdings in the offer for sale of up to 29,955,434 shares of BSE Ltd to be listed on rival exchange NSE.
This works out to close to 30 per cent of the total holding.
Besides, Bajaj Holdings and Investment, Caldwell India Holdings and Acacia Banyan Partners will offload part of their holdings in the IPO, as per the draft red herring prospectus (DRHP) filed with the regulator.
Sources said the IPO may give a market value of over Rs 5,000 crore to BSE, the world’s largest exchange in terms of the number of listed companies. The collective market value of all the companies listed on BSE, earlier known as the Bombay Stock Exchange, currently stands near a record high level of over Rs 112 lakh crore. Shares of nearly 3,000 companies trade on its platform. As many as 262 shareholders, mostly with small stakes including a few individuals with holdings as low as 150 shares, have offered to participate in the sale and these include JM Financial, GKFF Ventures, Nadathur Estates, Isheta Realty, Keynote Capitals, Sharekhan, Citigroup Global, Centrum Broking, Emkay Global and IDBI, as per the DRHP.
There are an estimated 9,000 shareholders in BSE, where originally mostly brokers held shares.
