BSE Ltd plans to file draft papers with the capital markets regulator Securities & Exchange Board of India (SEBI) to raise INR 800 crore via its much-awaited initial public offering (IPO), reports a business daily.
BSE plans to file IPO papers with SEBI in July to raise around Rs. 800 crore, says the financial newspaper.
The exchange’s IPO is expected to hit the market in the current fiscal year, according to the daily.
BSE, formerly known as Bombay Stock Exchange, has already appointed Edelweiss Financial Services as the lead merchant banker and AZB & Partners and Nishith Desai Associates as legal advisers for the proposed IPO.
A committee of the BSE senior management, its Board members and shareholders have been overseeing the progress of the proposed IPO, says the paper.
Last week, BSE’s Board, which was addressed by SEBI Chairman UK Sinha, discussed the IPO.
For FY16, the exchange’s net profit slumped 38% to INR 96.74 crore. However, income for the period rose to INR 616.19 crore from INR 583.71 crore in the previous fiscal year.
In March, BSE had stated that it plans to come out with its IPO in the next 6-9 months.
The announcement came after receiving "in-principle" approval from SEBI for listing.
SEBI notified amendments to the Stock Exchanges and Clearing Corporations regulations on 1st January.