BSE Limited IPO Details and Price band

The first initial public offering (IPO) of 2016 will open on January 23. BSE’s IPO, the first by a domestic stock exchange, is aiming to raise Rs 1,243 crore through its issue, which will close on January 25. The price band at Rs 805-806 per share.

The IPO of 15,427,197 shares of face value of Rs 2 each, will constitute up to 28.26 percent of the fully-diluted post offer issued share capital of BSE. Bids for the issue can be made for a minimum of 18 shares and in multiples of 18.

It has raised Rs 373 crore by allotting shares to anchor investors Goldman Sachs Asset Management, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Citigroup, IDFC Mutual Fund, DSP Blackrock, Capital World, Reliance Capital Trustee Company and Kuwait Investment Authority Fund.

About the company: BSE Limited

BSE Limited is the owner and operator of the Bombay Stock Exchange (BSE), India’s largest stock exchange by number of companies listed. The BSE was established in 1875 as the first stock exchange in Asia. The BSE is one of India’s leading exchange groups. Today, the BSE has more than 5,000 companies listed on it – the highest in any exchange around the world. The companies listed on the BSE command a total market capitalisation of $1.64 trillion as of September 30, 2015. The world’s two leading global exchanges, Deutsche Bourse and Singapore Exchange, are strategic partners in BSE Limited.

Company Promoters:

The company is professionally managed and does not have an identifiable promoter. There are no shareholders who control individually or as a group, 15% or more of the voting rights of the company.

Company’s competitive strengths:

  • Strong brand equity with a track record of innovation
  • Diversified and integrated business model; active relationship with market participants
  • State-of-the-art infrastructure and technology
  • Financial strength and diversified sources of revenue

Objects of the issue: To achieve the benefits of listing the equity shares on NSE and;
For the sale of equity shares by the selling shareholders.

BSE Limited IPO Issue Detail:

  • Issue Open: The issue opens on January 23, 2017 and closes on January 25, 2017
  • Issuer: BSE Limited
  • Price band: Rs805 to Rs806 per share
  • Lot size: 18 equity shares and in multiple thereafter
  • Issue size: Rs1,241.89 crore to Rs1,243.43 crore
  • Issue allocation: QIB – 50%; NIB – 15%; Retail – 35%
  • Mode of payment: ASBA is mandatory (cheques will not be accepted)
  • GCBRLMs: Edelweiss Financial Services Ltd, Axis Capital Ltd, Jefferies India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd
  • BRLM: Motilal Oswal Investment Advisors Pvt Ltd, SBI Capital Markets Ltd and SMC Capitals Ltd
  • Registrar: Karvy Computershare Pvt Ltd
  • Listing: Proposed to be listed on the National Stock Exchange