BSE to file for IPO in next 5 days

In the next three to five days, the BSE, Asia’s oldest bourse, is likely to file its draft offer document for its initial public offering, according to sources.

The IPO would be an offer-for-sale (OFS) by its existing shareholders. As on June 30, the BSE had 9,314 shareholders holding over 10.73 crore shares.

Deutsche Boerse AG and Singapore Exchange hold 4.749 per cent each in BSE while Caldwell India Holdings, Atticus Mauritius and Acacia Banyan Partners hold 3.74 per cent each under Foreign Direct Investment.

Foreign portfolio investors GKFF Ventures and Quantum (M) hold 4.577 per cent and 3.74 per cent in the exchange, respectively. Among DIIs, LIC holds 4.675 per cent in BSE.

The total size of the IPO is likely to be up to 30 per cent of the post-IPO issued equity share capital of the exchange.

In case selling shareholders actually tender more than the required 30 per cent, the number of equity shares that will be offered in the OFS will be on pro-rata basis, that is, in proportion to such number of equity shares that aggregates to 30 per cent of the post-IPO equity share capital of the exchange.

SBI Capital Markets, Axis Capital, Nomura, Jefferies, Motilal Oswal, Deutsche Bank and Edelweiss have been appointed as bankers to the IPO.

Karvy, the registrar to the issue, had sought selling shareholders, who wished to participate in the OFS, to deposit the number of shares that they wished to offer in a special depository account named ‘BSE IPO Participation Escrow Account’ maintained with the depository participant Karvy Stock Broking, latest by August 22, in addition to submitting the consent to the registrar.

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