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Asia’s oldest stock exchange BSE received shareholder approval on Friday to list its shares.
At the bourse’s annual general meeting in Mumbai, shareholders also approved a resolution to allow those with more than 10 cent stake to sell the same through the offer-for-sale mechanism.
SEBI yet to approve A shareholder who attended the AGM said: “SEBI is yet to approve the listing of BSE’s shares.”
According to SEBI norms, a stock exchange’s shares cannot be listed on its own trading platform. Besides, prior approvals from SEBI and RBI are also required.
According to the resolution moved by shareholders, the formation of a listing committee has been proposed to coordinate between the shareholders who are interested in tendering their shares under the OFS route at the time of listing.
This committee would be headed by the chairman of the board of directors of the company and have at least five members of the board.
The five members would include one shareholder director and a minimum of three representatives of shareholders, including two representing FDI/FPI investors. They would meet every quarter to execute steps to expedite the listing.
The BSE had filed the draft prospectus for listing of its shares with SEBI about two years ago.
As on date, the only listed exchange in India is commodity bourse MCX. After the merger of commodities regulator Forward Markets Commission (FMC) with SEBI on September 28, MCX would come under SEBI’s direct supervision.
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