State Bank of India and Life Insurance Corporation are among the front runners to pick up stake in the Asia's oldest bourse Bombay Stock Exchange, which has to demutualise by May 19.Under demutualisation, BSE has to off-load 51% stake in the stock exchanges owned by 790 brokers. The exchange has already offloaded 10% stake to Deutsche Bourse and Singapore Exchange and 41% has to be sold by next week.
BSE has received interest from over 20 leading domestic and foreign financial institutions for offloading remaining 41% stake. The long overdue announcement of the remaining 41% stake is likely next week, a BSE official said.
BSE is keeping the names of the firms, which have applied for picking up stakes, under wraps but indication are SBI, LIC and Bank of India are among 20 firms and FIs that have applied for.
Read more in The Times of India article.
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