Mumbai:
The Bombay Stock Exchange (BSE) has decided to sell 41
pc stake to 20 investors, including domestic and foreign
financial institutions, for about $ 384 million.
The
investors are said to include public sector insurance
behemoth Life Insurance Corporation of India (LIC) and
State Bank of India (SBI).
Exchange
officials said this was the largest private placement
done in India and spoke volumes of the franchise of the
exchange.
BSE
held its board meeting and extra-ordinary meeting (EGM)
to complete the demutualisation process. The deadline
for completing the 51 pc stake sale held by broker- members
in BSE, Asia''s oldest exchange, is mid-May this year.
Recently,
BSE sold 5-per cent stake each to Franfurt-based Deutsche
Boerse AG and Singapore Exchange at Rs5,200 per share.
The deal valued the exchange at $800 million.
The
41 pc share will also be sold to select investors at Rs5,200
per share.
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