BSE gets in-principle nod for IPO

A sparkling buidling of stock exchange
Bombay Stock Exchange (BSE)

Unlisted shares of Bombay Stock Exchange (BSE) Ltd, will soon start trading on the stock exchanges after the Securities and Exchange Board of India (Sebi) on Saturday, 12 March 2016 granted an in-principle approval to BSE to launch an IPO. BSE runs Asia’s oldest stock exchange.

I am market making in shares of Bombay Stock Exchange Ltd (BSE) and other unlisted shares. Please contact me to buy/sell shares or for more details and updates on 08108234400 or email on buysellunlistedshares@gmail.com

“We had decided in January to allow stock exchanges to list. We have granted an in-principle approval to BSE to list,” said U.K. Sinha, chairman, Sebi.

BSE first approached the market regulator with a listing plan in January 2013. However, it could not procure an in-principle approval from Sebi for an IPO due to lack of clarity on SECC norms. One of the hurdles BSE faced was regarding the monitoring of post-listing shareholding thresholds set at 2%, 5% and 15% and ensuring that every shareholder is ‘fit and proper’ as per Sebi norms.

After the announcement Ashish Chauhan, MD & CEO of BSE said that it is looking to list in the coming six to nine months. “We are looking to list in the coming six to nine months as typically all the regulatory filings and necessary due-diligence requires this much time,” said Chauhan.

“BSE would go in for an Offer for Sale (OFS) as our balance sheet is healthy and we do not need more funding, we are looking to list to provide an exit opportunity to our existing shareholders,” he added.

 

Advertisements

Published by

BuySellUnlistedShares

I am oldest dealer in unlisted/ delisted shares. I track stock market and provide timely updates to maximise wealth through highly profitable investment avenues.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s