BSE appoints 14 investment banks for IPO
"Yes, we have selected 14 investment bankers for our forthcoming IPO slated for the first half of 2013," BSE Chief Executive and Managing Director Ashish Kumar Chauhan told PTI.
The other lead managers to the issue include domestic majors including Kotak Mahindra Capital, ICICI Securities, Edelweiss Capital, Axis Capital, and IIFL, Chauhan added.
The BSE, which had reported a net profit of Rs 178 crore on a revenue of Rs 578 crore last fiscal, will be second bourse to get listed after Multi Commodity Exchange of India (MCX) made its debut in March this year.
He did not divulge the details of the issue saying the investment bankers will decide on the pricing and issue size. BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore, sources close to the development said.
The BSE has opted for the public issue to give an exit route to existing shareholders, who hold over 41 per cent stake in the exchange.
The IPO could fetch Rs 800-1,000 crore, they added.
At Rs 5,000 crore, BSE's valuation would be at a 37 per cent discount to MCX's current market capitalisation of Rs 7,881 crore.
Late last month, in an interview to PTI Chauhan had said that the oldest Asian bourse, had
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