BSE IPO may hit markets as soon as Jan 2017

Bankers are looking at pricing the issue at about Rs 500 apiece

Ashley Coutinho Mumbai

<b> Photo: Shutterstock <b>

Asia’s oldest bourse, BSE, has completed its roadshows abroad for the coming Initial Public Offer (IPO) of equity. According to sources, it expects approval soon from the Securities and Exchange Board of India (Sebi).
“We got a decent response from overseas investors and are currently marketing the offering to domestic investors,” said an involved investment banker.
BSE had filed its draft prospectus with the regulator in early September. About 29.95 million shares that were tendered during the offer for sale process will be sold in the IPO. Bankers are looking at pricing the issue at about Rs 500 apiece, which will value the exchange at around Rs 5,500 crore and put the IPO issue size at Rs 1,500 crore.

Member brokers believe a better valuation is possible. “If one considers the numbers being touted for the NSE (National Stock Exchange, its major rival and also planning an IPO), one can expect pricing

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First Published: Dec 31 2016 | 10:58 PM IST

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