Capital market regulator Securities and Exchange Board of India (Sebi) has provided in-principle not to BSE Ltd for an initial public offering (IPO).
BSE, the country’s second-largest exchange in terms of volume, has written to market regulator Securities and Exchange Board of India (Sebi) seeking an approval for theIPO and to list its shares on a recognized stock exchange.
Ashish Kumar Chauhan, managing director and chief executive officer, BSE said it will take around six to nine months for the exchange to file its offer document with Sebi.
“We hope that we will be able to file the offer document in the next six-nine months. As of now we don’t envisage issuance of any fresh equity. The IPO is likely to be an offer for sale (OFS) by existing shareholders,” said Chauhan.-from BS
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