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India's second largest stock exchange to go public

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Staff Writer | September 12, 2016
BSE, the second-biggest stock exchange in India, filed a draft prospectus for its initial public offering (IPO) and said it would list its shares on the National Stock Exchange.
Asia   BSE was founded in 1875
BSE said that its investors are selling 29.96 million shares in the IPO, a roughly 27.9 percent stake.

Of the 107.35 million shares in BSE, trading members hold about 52.3 million shares, or 48.7 percent. The rest is held by Deutsche Boerse, Singapore Exchange and a group of foreign portfolio investors, insurance companies and individuals.

Singapore Exchange has indicated it plans to liquidate its entire stake in the BSE as part of the process.

Founded in 1875, BSE, formerly Bombay Stock Exchange, reported total income of Rs.1.65 billion ($24.7 million) and net profit of 527 million rupees in the quarter ended June 30.