Country's premier stock exchange Bombay
Stock Exchange ( BSE) today said it had set up a committee to process its
proposed initial public offering (IPO). The exchange said that it may list
during the next calendar year.
Ashishkumar Chauhan, interim Chief Executive Officer, BSE Limited, said:
“We are working on the process to get listed in the Indian stock exchanges. We
have set up an IPO committee and we are in the process and we hope to
get listed in the first or second quarter of calender year 2013."
He said the exchange
is in the process of preparing Draft Red herring prospectus (DRHP) and waiting
for certain regulations to get listed, said Chauhan.
“We are a cash-rich
exchange and wants to give our investors an exit route and IPO would be best
option for them,” he added.
Currently broking
houses hold around 43% in BSE, followed by FIIs with 39% and FIs and retail
will hold the remaining in the exchange.
As per SEBI's rules,
we need to dilute up to 25% as per current regulations and the exchange will
work out with the existing investors on how to go ahead with this, said
Chauhan.
“We want to
capitalise on the first QFI investments, a US-based QFI had invested a good
amount for equities. We need to attract such investments in a big way. We are
facilitating our broking houses to attract such investments in a big way. And
towards this, a broking house will set up its office at Dubai and expect to go
on stream in September early”.
On the launch of BSE
100 index, he said, it has become a major success and helps broking houses
saving a whopping of around Rs 1,200 crore every year. It is so attractive that
the daily volume has gone up to Rs 35,000 crore to Rs 45,000 crore a day and has
gained a market share of over 35%, he added.
Commenting
about BSE's cost competitiveness in the futures and options segment, he said
BSE charges Rs 50 for every Rs 1 crore transacted, which is 85% lower than
other exchanges. The exchange does not charge any transaction cost for futures,
resulting in transaction cost on futures being lower by 22%, he said.
Sandip Ginodia
ABHISHEK SECURITIES
We deal in over 60 unlisted companies with 15 years of
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