BSE Lists At 36% Premium To Issue Price
BSE became the first Indian exchange to list on the bourses.
BSE Ltd. became the first Indian stock exchange to go public, after its shares listed at Rs 1,092.5, a 35.5 percent premium to the issue price of Rs 806.
The exchange plans to get into insurance distribution as part of its focus on the transaction processing business, BSE’s Managing Director and Chief Executive Officer Ashish Chauhan told BloombergQuint in an interview. The trend of large dividend payouts is likely to continue, Chauhan added.
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Robust Demand
The Rs 1,243 crore share sale of Asia’s oldest bourse was subscribed 51 times. The issue received bids for 55,14,14,862 shares as against the book size of 1,07,99,039 shares, according to data available on the National Stock Exchange.
The portion reserved for high networth individuals was subscribed more than 159 times, while the portion set aside for institutional investors was subscribed 48.64 times. The retail investor category witnessed demand that was 6.18 times the shares on offer.
BSE had raised Rs 373 crore by allotting shares to anchor investors.
Meanwhile, rival NSE too filed draft papers with Securities And Exchange Board Of India last month for an estimated Rs 10,000-crore IPO.
Shares surged 42 percent to Rs 1,148 as of 10 a.m.