BSE files draft prospectus for IPO with SEBI

With many companies filing for initial public offering (IPO), the Indian exchange BSE also looks forward to utilize the boom of IPO. 

It said today, BSE has filed a draft prospectus for IPO with the market regulator Security exchange board of India (Sebi), a PTI report. 

The issue size is of BSE is expected to be around Rs 1200 - Rs 2000 crore based on the percentage of shares suggested during the offer for sale (OFS). 

During the offer for sale, BSE recieved positive response, with shareholders proposing 30% of the exchange's total equity share capital, a Business Standard report. 

The exhange may quote its price band between Rs 375 - 380 in the grey market. 

Seven merchant's have been appointed namely - Axis Capital, Nomura, Deutsche Bank, Edelweiss Financial Services, Motilal Oswal, Jefferies and SBI Capital Markets to manage this IPO. 

Well BSE is not the only exchange which is opting for IPO, National Stock Exchange (NSE) is also preparing itself one step closer for launching IPO. 

In a meeting held on August 22, India's largest stock exchange decided to engage four joint global coordinators. This includes, the Citigroup Global Markets India Private Ltd, JM Financial Institutional Securities Limited, Kotak Mahindra Capital Company Limited, and Morgan Stanley India Company Private. 

Since the start of current financial year, there are 11 companies who have raised funds via IPO. 

Together, the 11 companies have managed to raise nearly Rs 9500 crore via their IPOs.