In a blockbuster debut, shares of 140-year-old BSE ltd on Friday got listed on rival NSE’s platform at a huge premium of nearly 33 per cent over the IPO price -culminating the 10-year-long process of India’s first stock exchange going public. The listing saw Asia’s oldest stock exchange attain an individual market valuation of nearly Rs 5,750 crore, while the combined market capitalisation of all listed companies on its platform incidentally scaled a new record of Rs 115 lakh crore.
After listing at Rs 1,085, up 34.61 per cent from the issue price of Rs 806 a piece, the BSE shares ended the first day of trading at Rs 1,069.20, a sharp gain of 32.65 per cent. In intra-day, the scrip skyrocketed as much as 48.88 per cent to touch a high of Rs 1,200 a share. On the volume front, over 1.5 crore shares of the exchange were traded on NSE during the day. Speaking at the listing ceremony at National Stock Exchange (NSE) here, BSE CEO Ashishkumar Chauhan promised that the exchange would stay focussed on a high level of compliance even after listing.
BSE Chairman Sudhakar Rao said he was now looking forward to NSE getting listed on the BSE's platform. NSE too has filed draft papers with the Sebi in December for an estimated Rs 10,000 crore IPO. Market regulator Sebi’s rules do not allow self-listing of a stock exchange and therefore they can get their shares listed only on another recognised bourse’s platform.