BSE gets SEBI approval to launch IPO

New Delhi, January 3

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Paving the way for BSE’s IPO launch, capital market regulator SEBI has given its final go-ahead to the draft prospectus for the estimated Rs 1,500-crore public offering by Asia’s oldest exchange.

The much-awaited public offer of BSE will see sale of 29,955,434 shares by the existing shareholders through the offer for sale (OFS) route. This works out to close to 30% of the total holding.

The exchange had filed draft papers with the regulator in September to float an IPO. It received SEBI’s ‘observation’ on December 30, which is necessary for any company to launch public offer, the latest update available with SEBI showed.

Sources said the shares could be offered at a price of Rs 500 each, giving the IPO a size of up to Rs 1,500 crore. Even at the lower end of the band, the IPO should be worth about Rs 1,200-1,300 crore, they added. — PTI