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India's BSE exchange gets market regulator's clearance for IPO
January 3, 2017 / 9:17 AM / a year ago

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

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.

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

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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