Bse Floats Online Book-Building Site

The Bombay Stock Exchange (BSE) has started a new section on book-building on its website which will give live information on the book-building process. The section will cover exhaustive information on companies currently with their books 'on' for book-building along with the bid details, a handy issue synopsis, issue details, names and addresses of lead managers/co-managers and syndicate members in case one wants to participate in the book-building process.

Currently, the first such book-building process of i-flex solutions is being featured live on BSEIndia website, till June 11, 2002.

The section will have a live book-building graph. This will display consolidated bids received from both BSE and NSE at various prices. The bar chart will also allow users to zoom in on customised price ranges to view the book in detail. Users will also be able to view the bid table.

 

This section will cover all the prior book-building issues, along with their bid details and contact information. Along with relevant links to the equities section, it will carry all the prime cross-navigational features.

It will also contain a note on the book-building concept, how books are built, introduction to the BSE book-building section and comparison with the regular IPO process. There is a glossary section that demystifies the jargons of book-building.

Dr Manoj Vaish, deputy executive director, BSE, says: "Book-building is the latest buzzword in the Indian capital markets. In this process of issuing equity, the company does not approach investors with a pre-determined price but instead offers the investor the opportunity to bid collectively. It then uses the bids to arrive at a consensus price."

He adds: "With the spate of book-building IPOs lined up for launch in the near future, BSE felt the need to provide investors with a view on the book-building activity which hitherto was available only on trading terminals."