BSE sets IPO price band at 805-806 rupees per share

Stock market operator BSE Ltd has set the indicative price band for its initial public offering (IPO) of shares at between 805 rupees and 806 rupees apiece, according to a marketing term sheet for the offering.

The IPO, which will open for bidding on Jan. 23, will see some of BSE`s shareholders selling a total of 15.4 million shares, and will value the stock exchange at 44 billion rupees ($645.02 million) at the top end of the price range.

Some of the top BSE shareholders, who will sell their holdings in the offering, include Singapore Exchange Ltd and investment firm Acacia Banyan Partners, and proceeds from the sale will go to those investors.