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BSE sets $198 million IPO for January 23-25
January 13, 2017 / 6:56 AM / 8 months ago

BSE sets $198 million IPO for January 23-25

A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India June 20, 2016. REUTERS/Danish Siddiqui - RTX2H4NB/Files

MUMBAI (Reuters) - BSE Ltd has set its initial public offering for Jan. 23-25, according to a filing from India’s second-biggest exchange, in a listing that bankers say could raise around 13.5 billion rupees ($198 million).

More than 300 shareholders in BSE, including Singapore Exchange (SGXL.SI) and a Citigroup (C.N) unit, will sell up to 15.4 million shares with a face value of 2 rupees each, according to its red herring prospectus filed with regulators.

The shares are expected to list on rival National Stock Exchange, on or around Feb. 3, BSE said in the filing.

BSE’s listing would come ahead of the National Stock Exchange, which filed for an IPO late last month with bankers saying it could raise as much as $1 billion.

Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu

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