Mumbai: The Bombay Stock Exchange, Asia's oldest, on Friday completed a nearly two-year exercise of corporatising itself by offloading 51 per cent of broker members' stake to 19 investors including SBI, LIC and Aditya Birla group, besides Deutsche Borse and Singapore Exchange.
The corporatisation or demutualisation process was to have been completed by May 19 as mandated by the Securities and Exchange Board of India under the BSE (Corporatisation and Demutualisation) Scheme, 2005.
Before the demutualisation, 790 broker members held 100 per cent stake in the 131-year-old exchange.
Bennett Coleman & Co, publishers of the Times of India, and Caldwell and Atticus Capital are among the 19 who have picked up stake in the bourse, market sources said, without giving details of the holdings of individual investors.
These 19 investors have picked up 41 per cent stake and the remaining 10 per cent was sold to Deutsche Borse and Singapore Exchange (SGX), who picked up five per cent each for Rs 189 crore at Rs 5,200 per share earlier this year.
The market capitalisation of the BSE now stands at around $1 billion.
Among the 19 new investors are "pedigreed marquee domestic and overseas institutions as well as select domestic corporates and HNIs," the BSE said in a statement.
When contacted, a BSE spokesperson said that due to a confidentiality clause in the agreements with the investors, the names of the 19 new investors could not be disclosed.
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