BSE gets in-principle nod for listing; IPO in 6-9 months

MUMBAI: Asia’s oldest bourse, the BSE, is set to launch its initial public offer (IPO) in the next six-nine months. After nearly two years of waiting, Sebi announced on Saturday that it has given a go-ahead for the exchange IPO.

The BSE had yet again written to Sebi on January 22, seeking its permission for the IPO. Sebi’s announcement regarding the IPO approval came after its board meeting on Saturday. “BSE will take six-nine months to file its offer documents,” said Ashish Chauhan, MD & CEO, BSE. “The IPO would be an offer for sale by existing shareholders.”

Chauhan said notices will be sent to shareholders by merchant bankers, seeking their consent on the number of shares and the price at which they have to be sold. Brokers whom ET spoke to said BSE could be valued at over Rs 4,000 crore.