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BSE shareholders okay IPO plan

The proposed IPO could be a combination of OFS and fresh issues for up to a maximum of 30% of the post-issue equity share capital of the company

Clouds are seen over the Bombay Stock Exchange (BSE) building in Mumbai
Clouds are seen over the Bombay Stock Exchange (BSE) building in Mumba. Photo: Reuters

Shareholders of the BSE stock exchange have approved its proposed plan to sell up to 30 per cent of its equity, in a much-awaited Initial Public Offer (IPO). It is expected to hit the market this financial year. The exchange plans to file draft papers next month with the Securities and Exchange Board of India (Sebi). The exchange said it was a unanimous e-vote of around 9,000 shareholders at the annual general meeting last week. BSE has appointed Edelweiss Financial Services as lead merchant banker, and AZB & Partners and Nishith Desai Associates as legal advisors to the issue. The ...