BSE IPO bidding to start from January 23

The Bombay Stock Exchange (BSE) has set the dates for its initial public offering (IPO) from Jan. 23 to Jan. 25. The bourse is coming with an IPO that could raise around Rs 1,350 crore. The BSE shares are expected to list on its rival National Stock Exchange (NSE) on approximately February 3.

BSE will sell 154,27,197 shares with face value of Rs 2. The merchant bankers working for the bourse may come up with a price band of around Rs 875.

There are more than 300 shareholders in BSE, including Singapore Exchange (SGXL.SI) and a Citigroup (CN) unit, who will sell up to 1.54 crore shares with a face value of Rs 2. Meanwhile, Deutsche Boerse AG, State Bank of India, Life Insurance Corporation of India major shareholders are retaining their stake in the stock exchange.

At the same time, the price band of NSE’s IPO is still undecided. The bourse had filed DRHP on December 28, 2016. It will raise about Rs 10,000 crore from its big bang IPO.