Have been looking to list BSE since 10 years: Ashish Chauhan
BSE India Chief Executive Officer Ashish Chauhan said he's been looking to list BSE's shares for nearly a decade now. He was speaking to the media at a press conference about the bourse's IPO, held in Mumbai.
"We have been looking to list BSE for the past 10 years,” Chauhan told the media.
BSE on Tuesday said that its IPO's price band was fixed from Rs 805 to Rs 806 per equity share.
“The pricing of BSE IPO was recommended by investment bankers. While merchant banks have received interest globally for it,” Chauhan said.
BSE is all set to enter the primary market via its Rs 1,241 crore initial public offering (IPO) on January 23, 2017. The IPO will close on January 25, 2017. BSE will be the first Indian stock exchange to list its shares.
Talking about BSE's financial performance, Chauhan added, "In FY16, BSE's profit margins rose to 50.4% and its return-on-capital employed grew to 11%. While Return on Average equity has recorded growth of 8.4%."
Here is all that you need to know about BSE IPO.
The stock exchange will offer offer up to 15,427,197 equity shares under the issue at a price band fixed between Rs 805- Rs 806 per equity shares (including a share premium).
The offer shall constitute up to 28.26% of the fully diluted post-offer issued share capital on BSE.
BSE stated that in consultation with the managers, it may consider participation by Anchor Investors in accordance with Securities and Exchange Board of India (Sebi). Bidding for anchor investors shall be available for one working day on January 20, 2017 and it can be made for a minimum of 18 equity shares.
Global co-ordinators and Book running lead managers (BLRM) are - Edelweiss Financial Services, Axis Capital, Jefferies India, Normura Financial Advisory, Motilal Oswal, SBI Capital and SMC Capital.
Under the offer, 50% of the issue will be allocated to Qualified Institutional Buyers (QIB), while 15% to non-institutional investors (NII) and the remaining 35% will be sanctioned to retail individual investors (RII).
After the IPO, BSE will be listed on its rival NSE since current market rules don't allow for a bourse's shares to be self-listed.