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India's Bombay stock exchange plans IPO next year

Published on Dec 12, 2012 9:31 PM
Indian officegoers walk past the Bombay Stock Exchange (BSE) building in Mumbai on Nov 29, 2012. Asian markets mostly tracked Wall Street higher on Nov 29 as investors following US talks aimed at avoiding a fiscal cliff welcomed positive comments from both sides of the political divide. -- PHOTO: AFP

MUMBAI (AFP) - The operator of India's Bombay Stock Exchange, said on Wednesday it is likely to sell shares in an initial public offering (IPO) in the next financial year, according to Dow Jones Newswires.

The IPO would take place in the middle of the fiscal year starting April 1, the BSE's chief executive said.

The exchange, Asia's oldest, has hired 14 banks to manage the planned IPO, the report said.

The Bombay Stock Exchange is India's second-largest stock exchange by market share and its stakeholders include Deutsche Boerse and the Singapore Exchange as well as local brokerages.

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