BSE brushes aside IPO-related complaints, to float share sale as planned
BSE Ltd, operator of Asia’s oldest stock exchange, has dismissed complaints filed by two individuals regarding its upcoming initial public offering and is going ahead with the share sale as planned, three people familiar with the matter told VCCircle. The stock-exchange operator had received two legal notices from individuals Yogesh Mehta and Kiran Mehta alleging irregularities in construction of its building and challenging the go-ahead to the IPO. In its response, BSE has denied any illegalities and said that it has disclosed the complainants’ concerns in the draft prospectus filed with the Securities and Exchange Board of India, one of...
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BSE Ltd. (formerly Bombay Stock Exchange Ltd.) owns and operates stock exchange. It offers products and services in cash equities, futures, options, swaps, exchange-traded products, bonds and market data, Corporate Data and Historical Data etc. It provides investor services, BSE on-line trading and BSE training institute services. The firm also provides an efficient and transparent market for trading in equity, debt instruments, derivatives, mutual funds. The company has a platform for trading in equities of small-and-medium enterprises (SME) and BSE Hi-Tech (Institutional Trading Platform for young fast-growing companies to list itself and can meet potential investors to raise funds). The firm also provides depository services through its central depository services Ltd. (CDSL) arm and a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. The company was founded in 1875 and is based in Mumbai, Maharashtra with additional office in New Delhi.