BSe’s initial public offering (IPO) was on Wednesday, when it closed, subscribed 51 times with investors bidding for 55.07 crore shares of the total 1.07 crore shares on offer, reports fe Bureau in Mumbai. The stock exchange has priced its IPO aimed at raising R1,243 crore in a price band of R805-806 per share. The issue is a pure offer for sale; the proceeds of the offer will go to the selling shareholders in the proportion of equity shares offered by them.
The issue saw subscription of 15 crore shares of the total 30.8 lakh shares from the qualified institutional buyers category. High net-worth individuals bid for 36.8 crore shares of the 23.1 lakh shares reserved for them. Retail investors bid over 600% of their quota of 53.9 lakh shares offered to them.
The company on January 20 raised R373 crore by allotting 46.28 lakh shares to 24 anchor investors at a price of Rs 806 a piece.
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Investors allotted shares in the pre-IPO placement include Goldman Sachs AMC, ICICI Prudential, Kotak Mahindra Mutual Fund, DSP BlackRock Alternative Investment Fund and Reliance Capital Trustee, among others.
BSE operates in three primary lines of business: The listing business, the market business and 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 the previous year.
Jefferies, Edelweiss, Nomura, Motilal Oswal and SBI Capital Markets are the book-running lead managers of the issue.