BSE makes strong debut on bourses

BSE Ltd, which is Asia’s oldest stock exchange and the first in India to get listed, made a strong debut on the bourses on Thursday with its shares opening with a positive gap of nearly 35% compared to its issue price.

On the National Stock Exchange, shares of BSE opened at Rs.1,085, up 34.62% from its issue price of Rs.806. It touched a high of Rs.1,200 during the first hour of the trading session.

The initial public offer (IPO) of BSE, which closed for subscription on January 25, has been subscribed 51.15 times with all categories of investors showing strong interest in the first such public issue by a stock exchange in India.

The strong listing means a windfall to the shareholders that sold their shares as part of the public offering.

According to the IPO prospectus filed by BSE, more than 300 entities — individuals, brokerages, institutional investors, exchanges — sold their shares as part of the BSE IPO.

Singapore Exchange, along with some of the other top shareholders like Atticus Mauritius, Caldwell India Holdings Inc, Acacia Banyan Partners and GKFF Ventures sold plan their shares in the IPO.

According to the red herring prospectus of the exchange, Singapore Exchange, which currently owns 4.67% stake in BSE, has completely exited from the Indian bourse. Quantum (M) and Atticus Mauritius also sold their entire stake in the bourse, while many other entities partly diluted their holdings.

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Source:The hindu

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