The Bombay Stock Exchange (BSE) is selling 41% stake to 20 investors, including domestic and foreign financial institutions, for about $ 384 milliion - the biggest private placement of equity ever in the country.
Insurance behemoth Life Insurance Corporation of India (LIC) and State Bank of India (SBI) are among the investors though no confirmation was available from the exchange.BSE held its board meeting and extra-ordinary meeting (EGM) today to complete the demutualisation process. The deadline for completing the 51% stake held by broker- members in BSE, Asia's oldest exchange, is mid-May this year.
Recently, it sold 5% stake each to Franfurt-based Deutsche Boerse AG and Singapore Exchange at Rs 5,200 per share. The deal valued the exchange at $800 million.
Read more in The Business Standard article.
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