BSE expects IPO in 6-9 months, gets in-principle Sebi nod

Leading stock exchange BSE today said it plans to come out with its much-awaited initial public offering (IPO) in the next 6-9 months after receiving in-principle approval from markets regulator Sebi.
BSE has already appointed Edelweiss Financial Services lead merchant banker and AZB & Partners and Nishith Desai Associates legal advisors to the issue.
"The current time-frame is expected to be in the range of 6-9 months. BSE has already appointed merchant bankers for this process," the exchange spokesperson said.
He further said the exchange plans to follow all Sebi regulations and is looking to list on another exchange as per the regulator's norms.

Earlier, Chairman U K Sinha said Sebi has given in-principle approval to BSE for listing.
BSE, in January, had sought approval from the Securities and Exchange Board of India (Sebi) for launching the IPO, saying it is in compliance with all the requirements for listing.

The exchange has been seeking nod to get listed for a long time, but necessary clearances have not been forthcoming on one issue or the other.
While BSE has always been open to cross-listing -- that is, listing its shares on a rival exchange platform -- its competitor National Stock Exchange (NSE) has been against cross-listing on a rival.

In a letter written to Sebi in January, BSE had said it is in full compliance with the requirements of the new SECC (Stock Exchanges and Clearing Corporations) Regulations and therefore, it can proceed with its IPO plans.
The exchange had requested Sebi to provide approval "permitting BSE to proceed with the IPO and listing of BSE's shares on a recognised stock exchange".
Sebi, in January, had amended the existing SECC regulations to make it easier for stock exchanges to list their shares through an IPO.
The move follows demand from investors in stock exchanges for listing of the bourses which can provide them an opportunity to unlock the value of their investments.