The initial public offering (IPO) of BSE was subscribed 1.55 times on Tuesday, the second day of its offering, with investors bidding for 1.67 crore shares of the total 1.07 crore shares on offer. The stock exchange has priced its IPO aimed at raising Rs 1,243 crore in a price band of Rs 805–Rs 806 per share. The issue is a pure offer for sale (OFS); the proceeds of the offer will go to the selling shareholders in the proportion of equity shares offered by them.
The issue subscribed 6.5 lakh shares of the total 30.8 lakh shares from the Qualified institutional buyers (QIBs) category. High net-worth (HNIs) individuals bid for 13.1 lakh shares of the 23.1 lakh shares reserved for them. Retail investors bid over 273% of their quota of 53.9 lakh shares offered to them.
The company on January 20 raised Rs 373 crore by allotting Rs 46.28 lakhs shares to 24 anchor investors at a price of Rs 806 a piece. Among the investors who were allotted shares in the pre IPO placement include Goldman Sachs AMC, ICICI Prudential Mutual Funds, Kotak Mutual Funds, DSP Blackrock Alternative Investment Fund, Reliance Capital Trustee, among others.
BSE operates in three primary lines of business, the listing business, the market business, the data business. BSE posted a net profit of Rs 1,319.1 crore in the financial year ended March 31,2016 against Rs 756.5 crore in the previous year.
Jefferies, Edelweiss Nomura, Motilal Oswal and SBI Capital Markets are the book running lead managers of the issue.