BSE board approves IPO

The board of directors of BSE Ltd formally approved its plan to go public at their meeting held in Mumbai. UK Sinha, chairman, Sebi too attended the board meeting as a special guest. The Sebi chief was apprised by BSE on its listing plan.

"The board has shared the listing plans and roadmap with him. A brief presentation on the steps that has taken in the direction of listing was shown to him. Subsequently, Edelweiss, who is the main lead manager for the IPO sale also made a presentation to the board and chairman on the IPO roadmap," said a BSE official

BSE plans to file its offer document with Sebi by July, say sources. BSE will be the first equity exchange to come out with an IPO.

Sources said, the IPO will be entirely an offer for sale (OFS) and not involve an issue of new shares. Around 20 per cent of BSE's equity is likely to be offloaded. It aims to launch the IPO before December, said a person cited earlier. The issue price is likely to be between Rs 400 and Rs 600 a share, the person added.