‘At the end of October 2016, BSE was the world’s largest exchange by number of listed companies.’
Mumbai: Asia’s oldest bourse, BSE, is now counting days to get listed. The public issue will open on January 23, 2017 and close on January 25, 2017 at a price band of Rs 805-806 per equity share.
An initial public offering of up to 15,427,197 equity shares will be available. BSE is looking at raising around Rs 4,300- Rs 4,400 crore through IPO (initial public offering), said an executive. This will allow its existing stockholders to exit the company. “There is a cluster of investors of shareholders looking at existing BSE and this would be the right time for them.” There are around 262 shareholders, namely Singapore Exchange, Atticus Mauritius, Quantum (M) and IDBI Bank among others. The anchor investors bidding will be held on January 20. The bids can be made for a minimum of 18 Equity Shares and in multiples of 18 Equity Shares thereafter.
Commenting about the future of the exchange sector Ashish Kumar Chauhan, MD and CEO of BSE said, “There are many government initiatives like GST and others that will make people come to the market.” At the end of September 2016, the market capitalisation of BSE increased by 17 per cent on a year-on-year basis. According to Care Report, from FY 2012 to FY 2016, the number of shares traded on both exchanges –BSE and NSE, combined grew by 30 per cent. On the other hand, the number of trades from FY 2012 to FY 2016 on BSE rose from 324 million trades to 408 million trades.
The global co-ordinators and book running lead managers to the offer are Edelweiss Financial Services, Axis Capital, Jefferies India Private and Nomura Financial Advisory and Securities (India) Private. The book running lead managers to the offer are Motilal Oswal Investment Advisors Private, SBI Capital Markets and SMC Capitals.
The exchange is the world’s tenth largest exchange by market capitalisation with USD 1.7 trillion in total market capitalisation. The exchange witnessed an increase in total revenue by 23.9 per cent for six month ending September 30, 2016.
