BSE's IPO oversubscribed 1.5 times on second day of offering at Rs 1,243

Stock exchange major BSE's initial public offering (IPO) was oversubscribed by 1.55 times on Tuesday, the second day of the Rs 1,243.43 offering.

According to the data available with the NSE, till 5.00 p.m. on Tuesday, the IPO received bids for 1,67,06,394 shares of the total issue size of 1,07,99,039 shares.

The data revealed that the IPO received a healthy response from the Retail Individual Investors (RIIs), who oversubscribed it by 2.73 times.

The RII's bid for 1,47,38,670 shares out of the 53,99,519 shares offered to the category.

Besides, the Qualified Institutional Buyers (QIBs) sent in bids for 652,374 shares or 21 per cent of the quota limit of 30,85,440 shares.

In addition, the Non Institutional Investors (NIIs) bid for 13,15,350 shares or 57 per cent of the total 23,14,080 shares reserved of their category.

Earlier, the stock exchange major had allocated 46,28,158 equity shares to 'Anchor Investors' worth Rs 373 crore.

The company allocated the equity shares at an offer price of Rs 806 per equity share.

The anchor investors included the likes of Capital World, Massachussets Institute of Technology, ICICI Pru MF, Goldman Sachs Asset Management, Citigroup Global Markets Mauritius, Bajaj Allianz, Reliance Capital Trustee Co, Kuwait Investment Authority Fund and SBI MF.

The IPO is the first issue to hit the markets in 2017 and will last for three days.

The maiden public issue will off-load a total of 15,427,197 equity share (including anchor portion of 4,628,158 equity shares) with a face value of Rs 2 each via the book building route in a price band of Rs 805-Rs 806.

At the upper band, the size offer works out to Rs 1,243.43 crore.

The offer will comprise up to 28.26 per cent of the fully diluted 'post-offer' issued share capital of BSE. Bids have been invited for a minimum of 18 equity shares and in multiples of 18 equity shares thereafter.

Established on July 9, 1875, the company is the country's biggest bourse in terms of listed companies (5,868 firms) on its platform. But the exchange's own shares will trade on the rival National Stock Exchange (NSE).

The BSE owns and operates the popular BSE exchange platform and has a 14 per cent market share in the "equity cash" segment.

The $1.71 trillion market capitalisation of listed companies on its platform makes it the 10th largest exchange in the world by market capitalisation.

The company operates in multiple segments such as listings, securities services, corporate services and data dissemination.

In addition, the stock exchange major holds a 50.05 per cent stake in Central Depository Services (India) and 100 per cent stake in Indian Clearing Corporation.

Currently, the top shareholders of the company include Deutsche Boerse, Singapore Exchange, State Bank of India, Life Insurance Corporation of India, GKFF Ventures, Quantum (M), Caldwell India Holdings Inc. and Atticus Mauritius.

The global co-ordinators and book running lead managers to the offer are Edelweiss Financial Services, Axis Capital, Jefferies India and Nomura Financial Advisory and Securities (India).