Market regulator Securities and Exchange Board of India on Tuesday approved BSE Ltd.’s proposal for an initial public offering, estimated at Rs 1,500 crore. The IPO of Asia’s oldest stock exchange is likely to generate a sale of 29,955,434 shares via the offer-for-sale option, an approximate price of Rs 500 a share, PTI reported.
BSE’s shares will be listed on the wider National Stock Exchange as the market regulator does not permit self-listing. The bourse’s rival NSE had filed its papers with Sebi last week.
An estimated…