The Bombay Stock Exchange (BSE) on Friday filed documents with capital markets regulator Securities and Exchange Board of India (Sebi) for its upcoming initial public offering (IPO). Shareholders of the BSE will be partially selling their stake via the offer for sale (OFS) route for a sum in the range of Rs. 1,200 to Rs. 1,300 crore.
The 141-year-old stock exchange -- which is also Asia's oldest and has about 9,000 shareholders -- received the Sebi's in-principle approval in March this year and shareholders' nod at its annual general meeting held in June this year.
The decision to file the IPO papers was taken by the BSE at its board meeting held on Wednesday, PTI reported.
The pre-conditions of the OFS were conveyed to the shareholders two months ago.
"You could participate in the IPO by selling your Equity Shares as part of the Offer for Sale and you can avoid the lock-in of your Equity Shares for one year from the date of allotment/transfer of Equity Shares in the IPO," the BSE said in a communication on July 5 to its shareholders.
"Furthermore, subject to applicable law, the total size of the IPO shall be up to 30%, of the post-IPO issued equity share capital of the Exchange," it added.
The National Stock Exchange (NSE) is also planning to list its shares on the exchanges.
Highlights of BSE (extracted from its annual report for 2015-16):
5,911 — number of companies listed on the exchange (equity and debt) as on March 31, 2016
11th — in the world in terms of number of trades
12th — in the world in terms of market capitalisation
13 subsidiary companies (direct and indirect), two joint ventures and one associate company
In December 2015, the exchange signed an agreement with the India Bullion and Jewellers Association (IBJA) for setting up a spot bullion exchange, the first of its kind in India.
9,007 — total number of shareholders of the exchange
7,991 — number of shareholders who are individuals
Top 10 shareholders include Deutsche Boerse AG, Singapore Exchange Limited, Caldwell India Holdings Inc., Atticus Mauritius Limited and Acacia Banyan Partners Limited, LIC, SBI and Bajaj Holdings.