The first initial public offering (IPO) of 2017 will open on January 23. BSE’s IPO, the first by a domestic stock exchange, is aiming to raise Rs 1,243 crore through its issue, which will close on January 25. The bourse has fixed the price band at Rs 805-806 per share. The IPO of 15,427,197 shares of face value of Rs 2 each, will constitute up to 28.26 percent of the fully-diluted post offer issued share capital of BSE. Bids for the issue can be made for a minimum of 18 shares and in multiples of 18.
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1. Bajaj Holdings Investment, Caldwell India Holdings, Acacia Banyan Partners, Singapore Exchange, the Mauritius-based arm of American investor George Soros’ Quantum Fund and foreign fund Atticus are few of its existing shareholders.
2. There are around 9,000 shareholders in BSE. At the end of October 2016, the BSE was world's largest exchange by a number of listed companies, and India's largest and the world's 11th largest exchange by market capitalization, with USD 1.7 trillion in total market capitalization of listed companies. It has 5,868 listed companies as on October 2016.
3. It operates in three primary lines of businesses. BSE’s revenue is comprised of revenue from operations, which consists of (i) revenue from securities services, (ii) revenue from services to corporates and (iii) revenue from data dissemination fees, income from investment and deposits and other income. It also has other supporting businesses including providing IT services and solutions.
4. BSE derives its revenue from a number of sources, including securities services, services to corporate, data dissemination fees, investments and deposits, and other sources. For FY2014, FY2015 and FY2016 and the six months ended September 30, 2016, its revenue from operations was Rs 2,667.9 million, Rs 3,611.4 million, Rs 4,265.4 million and Rs 2,421.8 million, respectively, and its net profit after share of minority and share of loss of associate as restated was Rs 1,351.9 million, Rs 1,297.4 million, Rs 1,225.3 million and Rs 1049.3 million, respectively.
5. For BSE and NSE, revenue is primarily derived from securities services and services to corporates, which primarily consists of listing income. Information services contribute little to the revenue of Indian exchanges, contributing to approximately 4 percent to 5 percent. On the other hand, information services generally account for 10 percent to 25 percent of the total revenue for exchanges in developed economies.
6. BSE shares will be listed on NSE as SEBI rules do not allow self-listing for an exchange.
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