Stock market operator BSE Ltd has set the indicative price band for its initial public offering (IPO) of shares at between Rs 805 and Rs 806 apiece, according to a marketing term sheet for the offering.
The IPO, which will open for bidding on Jan. 23, will see some of BSE's shareholders selling a total of 15.4 million shares, and will value the stock exchange at Rs 4,400 crore at the top end of the price range.
Some of the top BSE shareholders, who will sell their holdings in the offering, include Singapore Exchange Ltd and investment firm Acacia Banyan Partners, and proceeds from the sale will go to those investors.
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