New Delhi India’s biggest stock exchange Bombay Stock Exchange, which recently concluded its Rs 1,243-crore initial public offering shall have its stocks listed on rival National Stock Exchange (NSE) on Friday. The issue, which was also the first share sale by a domestic stock exchange, was open to bidding on January 23-25.
The IPO saw robust investor demand and was oversubscribed 51.22 times. During the initial share sale, shareholders offered 1.54 crore shares estimated to be worth around Rs 1,243.44 crore at the higher end of the price band.
The price band was fixed at Rs 805-806. BSE’s initial share sale was also the first this year after 26 companies together garnered Rs 26,000 crore through IPOs in 2016, making it the best year for public offers since 2010. The bourse is the world’s largest exchange by number of listed companies.
Shares of nearly 3,000 companies trade on BSE, which was earlier known as the Bombay Stock Exchange. It is the world’s 10th largest exchange by market capitalisation. The m-cap of BSE-listed companies stands at Rs 1,14,50,863 crore.