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BSE IPO subscribed 15% on Day 1 on strong retail demand; NIIs going slow

BSE IPO : BSE IPO subscribed 15% on Day 1 on strong retail demand NIIs going slow
BSE IPO subscribed 51% on the first day of strong retail demand NIIs go lentBy | Jan 23, 2017, 07:54 PM ISTPost to CommentREAD MORE ABOUT & raquo Singapore exchange | Sebi | Return on equity | Mutual fund | Kuwait | IPO | Deutsche BoerseBudget 2017: This budget could be the toughest test of Modi's life. Read about this in our coverage of the 2017 Budget NEW DELHI: The initial public offering of Rs 1,241 rupees (IPO) of the national BSE exchange received 51 percent bids at the close of the first day of the bidding process. R n At 5 pm, the first OPI of the 2017 calendar received bids for 54.30 lakh shares from 1.07 crore shares in the block. Individual retail investors (RII) posted strong demand, which exceeded 86 percent of the quota limit for the category on the first day. Non-institutional investors (NII), which include high net worth individuals (HNI), subscribed 12 percent of their quota limit. The stock market said on Sunday that it had raised Rs 373 Crore through allocation of 46.28 lakh shares to anchor investors at the upper end of their IPO price band of Rs 805-806 per share. Smallcap World Fund, Goldman Sachs Asset Management, Citigroup Global Markets Mauritius and Kuwait Investment Authority Fund were some of the anchor investors who bought those shares. R n r n Being the best in the class behind the steady revenue boost and better management of the treasury. Excluding investment income, Ebitda margins stood at 22 percent in the first half of 2007. The exchange has been Funny on dividend payments that represent 80 percent of profits, "said brokerage Prabhudas Lilladher in a note. Analysts pointed out that in the band's higher price band Prices at Rs 806, BSE stocks are available at a reasonable price compared to global stock markets such as Singapore Exchange, Deutsche Boerse and Japan Exchange Group. Those exchanges are trading at 20-25 times their FY16 PE. "We expect the company's return on equity (ROE) to remain at the bottom for a few more years, given its large "Said Monarch Networth Capital in a note." We are looking forward to the next step, "he said in a statement. We also believe that foreign exchange derivatives of BSE, mutual funds and bond companies will be the drivers of growth in the intermediate future. The initial public offering of BSE has an attractive price of 18.6 times against the median

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