BSE Gets Sebi Nod for IPO

Capital market regulator Sebi has given its final approval for the much-awaited initial public offer of BSE. The exchange's maiden issue, in which 262 existing shareholder will sell 2.96 crore shares or 30% of the total equity holding, is expected to hit the market in the later part of January .The exchange plans to sell shares worth Rs.1,200-1,300 crore.

While Singapore Exchange has offered to sell its entire 4.7% stake in the bourse, others like Atticus Mauritius, Quantum, GKFF Venture , Acacia Banyan Partners, Canada-based investor Thomas Caldwell's Caldwell India Holdings and Bajaj Holdings and Investment will sell a portion of their holdings in the IPO.

The exchange had filed draft papers with the regulator in September to float an IPO. There are roughly 9,000 shareholders in BSE, most of whom are brokers. BSE shares will be listed on NSE as Sebi rules do not allow self-listing for an exchange. Last week, the National Stock Exchange filed draft red herring prospectus with Sebi for selling 20-25% shareholding through an offer for sale . The NSE issue size is expected at Rs.10,000 crore.

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