Wednesday, 18 January 2017
BSE LIMITED IPO
Established in 1875, BSE (formerly known as Bombay Stock Exchange Ltd.), is Asia's first stock exchange. At the end of October 2016, BSE is the World's Largest Exchange by number of Listed Companies and India's Largest and the world's 10th Largest Exchange by Market Capitalization, with US$ 1.7 trillion in total Market Capitalization of Listed Companies.
As the operator of the BSE, it regulates listed issuers and provides a market for listing and trading in various types of securities as may be allowed by SEBI from time to time.
BSE operates in three primary lines of business, viz:
1. The listing business, which consists of the primary market, which relates to the issuance of new securities; 2. the market business, which consists of (i) the secondary market, (ii) BSE StAR MF ("BSE StAR"), our online platform for the placement of orders and redemptions of units in mutual funds, (iii) NDS-RST, our platform for the reporting of over-the-counter corporate bond trading,
(iv) membership, which includes membership in the Exchange, membership in our clearing corporation ICCL, and depository participants in our depository CDSL, and
(v) post-trade services, namely the clearing corporation and depository; and 3. the data business, which consists of the sale and licensing of information products.
1. Strong brand recognition with a track record of innovation
2. Diversified and integrated business model and active relationship with market participants
3. State of the art Infrastructure & Technology
4. Financial Strength and Diversified source of Revenue
Objects of the issue
1. To achieve the benefits of listing the equity shares on NSE and2. For the sale of Equity shares by Selling Shareholder.
The First Multi-Platform Stock Exchange to get listed is the great opportunity for the investors to invest. BSE derives revenue from different sources which is increasing YOY. On valuation part the company posted Revenue has grown from ` 578 Cr. to ` 658 Cr. in the last 5 years.
At the Upper Price band of 806, P/E comes to around 35x and EPS of 22, which when compared to Peer (MCX) seems reasonably priced.
The BSE has got license to commence commodity business and plans to set up a Global Exchange at GIFT city in Gandhinagar. Around 300 members have consented to setup their offices at the new venue. BSE is one of the most recognizable brand names in India. This global brand helps in attracting companies to list on the exchange, attracting retail and wholesale participants to various market offerings.
BSE is headed by the very able Mr. Ashish Chouhan. He is a complete technocrat and has led the exchange to leadership in various new segments. We recommend investors to invest in this IPO issue with a medium to long term perspective.
Saturday, 3 December 2016
Change of Interest rates in NHAI /REC 54 EC
This is to inform you that both REC and NHAI has decided to reduce the rate of interest for 54EC Capital Gain Tax Exemption bonds wef 01.12.2016. The new rate of interest for these bonds will be 5.25 % per annum. The amount invested in REC and NHAI 54EC Capital Gain Tax Exemption Bonds where the amount of investment is credited in REC’s Collection Accounts on or after 1st December, 2016 and where deemed date of allotment for the bonds is or a later date, the coupon/ interest rate will be 5.25 % per annum.
This is further to clarify that only that amount of investment which is credited in REC’s and NHAI’s Collection Accounts till 30.11.2016 will be eligible for the present interest rate of 6.00% pa. The amount already invested in the bonds will not be impacted due to change of rate of interest and will continue to receive the same rate till maturity date of the bonds. All the other terms & conditions of the Information Memorandum (IM) for the above series of bonds will remain same.
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