Friday , August 18 2017
Home / Business / Financials / Bombay Stock Exchange’s Rs 1,243 crore IPO fully subscribed on second day of launch

Bombay Stock Exchange’s Rs 1,243 crore IPO fully subscribed on second day of launch

New Delhi: Bombay Stock Exchange’s initial public offer, the first by a domestic stock exchange in India, was fully subscribed by the afternoon trade on Tuesday. Bombay Stock Exchange aims to raise Rs 1,243 from the IPO.

The IPO which was launched on Monday got fully subscribed on the second day of the offer. The IPO, which closes tomorrow, received bids for 1,08,89,568 shares against the total issue size of 1,07,99,039 shares, data available with the NSE till 1330 hrs showed.

The stock exchange aims to raise up to Rs 1,243 crore from the IPO, which is priced at Rs 805-806 per share. During the initial share sale, which is also a first by any company this year, shareholders will sell 15.43 million shares estimated to be around Rs 1,243.44 crore at the higher end of the price band.

The IPO of 15,427,197 shares of face value of Rs 2 each will constitute up to 28.26 per cent of the fully-diluted post offer issued share capital of BSE.

Bids for the issue can be made for a minimum of 18 shares and in multiples of 18 thereafter. Last Friday BSE had raised Rs 373 crore by allotting shares to anchor investors. BSE shares will be listed on NSE as Sebi rules do not allow self-listing for an exchange.

Capital market regulator Sebi had given its final go ahead to the draft prospectus for the IPO on December 30.

PTI