Asia's oldest bourse BSE may raise 12.43b rupees in IPO

Mumbai

INDIAN stock exchange BSE Ltd's initial public offering (IPO) of shares next week may raise as much as 12.43 billion rupees (S$260 million) for its investors, based on the indicative price range for the sale announced on Monday.

Investors, led by Singapore Exchange Ltd, Atticus Mauritius and billionaire George Soros' Quantum, will be selling up to 15.4 million shares in Asia's oldest stock exchange in a price range of 805 to 806 rupees per share, according to a public announcement. The IPO, which will be open for sale from Jan 23 to Jan 25, will value the stock exchange at about 44 billion rupees at the top end of the price range. By comparison, Hong Kong Exchanges and Clearing Ltd has a market capitalisation of nearly US$30 billion, while the Singapore Exchange is valued at more than US$5.5 billion.