BSE IPO: Singapore Exchange may sell its entire stake

The BSE moved a step closer on Friday to list its shares on the rival National Stock Exchange (NSE), by filing a draft prospectus with the markets regulator, Securities and Exchange Board of India (Sebi). 

The shareholders are likely to sell nearly 27% of the entire in the IPO offer through the Offer For Sale route (OFS). It is likely that the Singapore Exchange may sell its entire 4.7% holding in the domestic exchange in the IPO. 

NSE has also filed for IPO, but with BSE now filing the draft red herring prospectus, it may become the first Indian stock exchange to go public. The BSE is the oldest stock exchange in Asia and the largest, in terms of the number of companies listed on it. 

The BSE is likely to offer nearly 27% of its stake in the IPO via offer for sale (OFS). 

The Singapore Exchange, which holds 4.7% stake in the bourse,  is expected to sell its entire shareholding. Even Quantum (M) which holds 3.7% in the exchange, is likely to sell its entire stake. 

BSE hopes to raise nearly Rs 1,200 - Rs 1,300 crore from the IPO but none of the BSE directors, key management personnel or group companies will get any proceeds. 

Apart from this, out of the 4,913,863 shares held by GKFF Ventures, 2,456,931 will be put up for sale in the OFS. 

Acacia Banyan Partners will be proposing 2,000,000 equity shares from the 4,015,544 equity shares.

Bajaj Holding, which currently holds 2.8% stake or nearly 3,006,796 equity shares, will be offering 1,503,398 equity shares.

From among the shareholders, only Deutsche Boerse, Life Insurance Corporation and State bank of India will not be selling any stake. 

Here's a list of the current shareholders of BSE. 

As on September 6, 2016, the domestic exchange had 9,855 shareholders.

Till the date of filing the draft prospectus, the exchange didn't have any employee stock option plans or schemes.