(Disclosure:I am market making in the shares of BSE)
Leading stock exchange BSE today said it is in the process of completing formalities for its initial public offering (IPO).
“BSE is specifically in the process of completing all the formalities. As and when the approval will be obtained, the IPO will come,” BSE Managing director and CEO Ashishkumar Chauhan said at an Assocham event here.
Chauhan, however, did not divulge the details of the issue, saying the investment bankers will decide on the pricing and issue size.
According to sources, BSE is seeking an offering that would value it at about Rs 4,000-5,000 crore. The IPO could fetch Rs 800-1,000 crore, they added.-from ET
Some stuff I am reading today morning:
The re-education of a brash young stock picker (NYTimes)
Why RBI gave only two new bank licenses (Mint)
HDFC Bank may fall on MSCI Weight loss (ET)
Hidden story of the Barmer property boom (BS)
News Traders and Interviews (MediaCrooks)
The rise and fall of gold (Bloomberg)
US Mutual Funds are investing in unlisted tech companies (Quartz)
Is India about to elect its Reagan (Hindu)
My time on the Sell Side (CommonSense)
“Over the long term” doesn’t mean “always” (Bason)
Anybody who follows Russian politics knows that the secret services there foist an opposition party whose job is to divide the anti-establishment vote.
In this interview,a Founder-Member of the AAP Party says thats the case with the AAP Party as well.
I have always maintained that it is impossible to keep secrets in a country like India.The reason is two fold-our sheer numbers makes privacy all but impossible and secondly, we as people, just love to gossip.
An interesting tidbit came to my ears via a banker friend.
A prominent political party gave a mandate for its poll advertising campaign to a leading ad agency.
The ad campaign was launched but soon enough, the “white” funds got exhausted.
The political party then insisted that the ad agency take funds in cash (i.e. black)
The ad agency demurred saying that even if it did, its media partners (TV Channels,Newspapers etc) will not.
A satisfactory solution was found for this knotty problem.
A leading industrialist stepped in-he makes all the payments in cheque on behalf of the political party to the ad agency !
This banker friend of mine is waiting for the results to come out.If this political party comes to power, he will go long the shares of this industrialist’s company.