January 3, 2017 / 9:17 AM / 7 months ago

India's BSE exchange gets market regulator's clearance for IPO

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People walk out of the Bombay Stock Exchange (BSE) building in Mumbai, June 29, 2015.Danish Siddiqui/Files

MUMBAI (Reuters) - BSE Ltd, India's second-biggest stock exchange, got clearance for its long-awaited initial public offering (IPO) from the Securities and Exchange Board of India (SEBI), according to the regulator's website.

Asia's oldest exchange had filed a draft prospectus for the IPO with SEBI in September, seeking to list its shares on larger rival National Stock Exchange (NSE).

The IPO is expected to raise about $200 million, and could be launched as early as this month, banking sources have said.

A listing would come ahead of the NSE, which filed its IPO prospectus last month. Bankers had said the NSE could raise as much as $1 billion, making it potentially India's biggest IPO since Coal India (COAL.NS) raised $3.5 billion in 2010.

Reporting by Abhirup Roy and Devidutta Tripathy; Editing by Subhranshu Sahu; Editing by Subhranshu Sahu

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