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Wednesday , 22 November 2017
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BSE IPO subscribed more than 51 times

In what is being seen as the investors’ infallible trust in the Bombay Stock Exchange (BSE), its IPO has received an overwhelming response, having been subscribed more than 51 times. It may be noted that this is the first time that an IPO has been launched by a stock exchange in India. Interestingly, the BSE is the oldest stock exchange in Asia, having started operations in 1875.

BSE

BSE’s IPO will see its existing shareholders release 1.54 crore shares to various entities and individuals. The IPO was launched at a price band of Rs 805-806, aggregating Rs 1,243 crore. According to reports, the HNI portion was subscribed 159 times, Institutional 49 times and the retail portion 6.2 times. More than 1 million applications have been received for the BSE IPO.

Sources have revealed that in wake of the high demand for BSE IPO, the premium on its shares in the gray market has increased to Rs 160 per share. Experts say that this could be used as a rough estimate to calculate the expected price of shares at the time of listing. If the gray market premiums are Rs 160, then it’s likely that the shares will be listed at around Rs 960-970.

According to merchant bankers and investment analysts, some of the strong points of BSE are its management, a credible brand image, and expectations of a profitable future.

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