Since we have filed, we have not yet received any communication seeking any clarification so far from Sebi. We do not anticipate any major hurdle and expect their approval over the next 60-70 days
Sources also added that sponsor shareholders will be the key decision makers on the matter as BSE is just a facilitator in the issue, which will be the country&8217;s first IPO for a stock exchange.
The entire IPO offering is sponsored by existing shareholders under Offer for Sale (OFS) category and BSE is not raising any fresh equity capital. The 141-year-old exchange has about 9,000 shareholders. It received Sebi&8217;s in-principle approval in March this year.
Furthermore, subject to applicable law, the total size of the IPO shall be up to 30 per cent of the post-IPO issued equity share capital of the exchange. According to reports, issue size could be around Rs 1,200-1,300 crore. Out of top 10 shareholders, many are diluting their stake.
Deutsche Boerse is not selling any stake in this offer, while BSE officials expect they will raise their shareholding in near future.