BSE picks 14 banks for IPO in 2013

Last Updated: Fri, Dec 07, 2012 07:42 hrs

pThe Bombay Stock Exchange BSE operator of Asias oldest stock exchange has chosen 14 banks for its initial public offering planned for the first half of 2013 its chief executive said on ThursdayppThe company is seeking an offering that would value it at about 1 billion Ashishkumar Chauhan saidppBank of America Merrill Lynch JPMorgan Barclays Capital UBS and the arms of Indian banks Kotak Mahindra Bank and ICICI Bank are among the lead managers of the planned IPO he saidpp"The process is on We are targeting a launch in the first half of next year" Chauhan saidppFounded in 1875 BSE has long considered an IPO Indias capital markets regulator in April approved listing of local stock exchanges subject to some conditionsppBSE says it is the worlds no 1 exchange in terms of listed members with about 5000 companies listed on it But rival National Stock Exchange founded in 1993 has eclipsed BSE in trade volumesppFrankfurt-based Deutsche Boerse and the Singapore Exchange own a five per cent stake each in BSE whose Sensex remains the benchmark stock index alongside the rival NSEs Niftyp

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