India's BSE sets US$198m IPO for Jan 23–25

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MUMBAI (Jan 13): BSE Ltd has set its initial public offering for Jan 23–25, according to a filing from India's second-biggest exchange, in a listing that bankers say could raise around 13.5 billion rupees (US$198 million).

More than 300 shareholders in BSE, including Singapore Exchange and a Citigroup unit, will sell up to 15.4 million shares with a face value of 2 rupees each, according to its red herring prospectus filed with regulators.

The shares are expected to list on rival National Stock Exchange, on or around Feb 3, BSE said in the filing.

BSE's listing would come ahead of the National Stock Exchange, which filed for an IPO late last month with bankers saying it could raise as much as US$1 billion.

(US$1 = 68.2429 Indian rupees)