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24
January 2017
Stock exchange major BSE's initial
public offering (IPO) was subscribed by 50 per cent on the first day of the Rs
1,243.43 offering which started on Monday. The Total Investment & Insurance Solutions
According to the data available with the
NSE, till 5.00 p.m. on Monday the IPO received bids for 5,430,204 shares of the
total issue size of 10,799,039 shares.
The Total Investment & Insurance Solutions
The data revealed that the IPO received
a healthy response from the Retail Individual Investors (RII), who bid for
4,638,924 shares. This represents 86 per cent of the 5,399,519 shares offered
to the category. The Total Investment
& Insurance Solutions
Besides, the Qualified Institutional
Buyers (QIBs) sent in bids for 510,012 shares or 17 per cent of the quota limit
of 3,085,440 shares. The Total
Investment & Insurance Solutions
In addition, the Non Institutional
Investors bid for 281,268 shares or 12 per cent of the total 2,314,080 shares
reserved of their category. The Total
Investment & Insurance Solutions
Earlier, the stock exchange major had
allocated 4,628,158 equity shares to 'Anchor Investors' worth Rs 373 crore. The Total Investment & Insurance
Solutions
The company allocated the equity shares
at an offer price of Rs 806 per equity share.
The investors included the likes of
Capital World, Massachussets Institute of Technology, ICICI Pru MF, Goldman
Sachs Asset Management, Citigroup Global Markets Mauritius, Bajaj Allianz,
Reliance Capital Trustee Co, Kuwait Investment Authority Fund and SBI MF. The Total Investment & Insurance
Solutions
The IPO is the first issue to hit the
markets in 2017 and will last for three days.
The maiden public issue will off-load a
total of 15,427,197 equity share (including anchor portion of 4,628,158 equity
shares) with a face value of Rs 2 each via the book building route in a price
band of Rs 805-Rs 806. The Total
Investment & Insurance Solutions
At the upper band, the size offer works
out to Rs 1,243.43 crore.
The offer will comprise up to 28.26 per
cent of the fully diluted 'post-offer' issued share capital of BSE. Bids have
been invited for a minimum of 18 equity shares and in multiples of 18 equity
shares thereafter.
Established on July 9, 1875, the company
is the country's biggest bourse in terms of listed companies (5,868 firms) on
its platform. But the exchange's own shares will trade on the rival National
Stock Exchange (NSE). The Total
Investment & Insurance Solutions
The BSE owns and operates the popular
BSE exchange platform and has a 14 per cent market share in the "equity
cash" segment. The Total
Investment & Insurance Solutions
The $1.71 trillion market capitalisation
of listed companies on its platform makes it the 10th largest exchange in the
world by market capitalisation. The
Total Investment & Insurance Solutions
The company operates in multiple
segments such as listings, securities services, corporate services and data
dissemination. The Total Investment
& Insurance Solutions
In addition, the stock exchange major
holds a 50.05 per cent stake in Central Depository Services (India) and 100 per
cent stake in Indian Clearing Corporation. The Total Investment & Insurance Solutions
Currently, the top shareholders of the
company include Deutsche Boerse, Singapore Exchange, State Bank of India, Life
Insurance Corporation of India, GKFF Ventures, Quantum (M), Caldwell India Holdings
Inc. and Atticus Mauritius. The Total
Investment & Insurance Solutions
The global co-ordinators and book
running lead managers to the offer are Edelweiss Financial Services, Axis
Capital, Jefferies India and Nomura Financial Advisory and Securities (India).The Total Investment & Insurance
Solutions
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