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BSE has got clearance for its long-awaited initial public offering (IPO) from the Securities and Exchange Board of India (Sebi).
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Reports indicated that the BSE would issue shares at Rs 1,000 per share, giving the IPO a size of up to Rs 1,500 crore. The IPO is likely to be launched as early as this month. Earlier, in November 2016, BSE had consolidated its share capital, whereby face value of each share was increased from Re 1 to Rs 2.
BSE had filed a draft prospectus for the IPO with Sebi in September 2016, seeking to list its shares on larger rival National Stock Exchange (NSE).
Established in 1875, BSE (earlier known as Bombay Stock Exchang) is Asia’s oldest stock exchange. Currently, Multi Commodity Exchange of India (MCX) is the only listed exchange in the country.
The year 2016 saw 26 companies raise Rs 26,493.8 crore through the IPO route, according to data from primary market tracker Prime Database, while in 2015, 21 companies raised Rs 13,614.08 crore.