India’s oldest stock exchange BSE hopes at least 40 companies will list on its main platform through initial public offering (IPO) this fiscal year. In addition, the exchange expects around 100 companies to list on the SME (small and medium enterprises) platform in FY 2015/16.
These figures reflect a sharp rise from just six IPOs on its main platform and 35 SME IPO in FY 2014/15.
The exchange has received applications with draft prospectus from 53 companies for listing. This includes 26 SME issues
– BSE Managing Director and chief executive Ashish Kumar Chauhan.
The influx of IPOs could prove to be a shot in the arm for BSE which is facing intense competition from its relatively new rival NSE. It is interesting since BSE and NSE are both interested in listing themselves on other stock exchanges.
India’s IPO market has turned red hot this year and as many as 21 companies have received market regulator SEBI’s approval to launch their IPOs. So far, eight companies have raised INR3,845 crore this year through their maiden public issues. These companies include Ortel Communications, Adlabs Entertainment, Inox Wind, VRL Logistics, MEP Infrastructure Developers, UFO Moviez India, PNC Infratech, and Manpasand Beverages.
In addition, several high profile companies have stated their desire to list in the coming months. Important among these are Flipkart competitor Infibeam and Coffee Day Enterprises Limited – the parent of Café Coffee Day (CCD) retail chain.
Read Also: Café Coffee Day IPO: What you need to know
While Infibeam and Coffee Day Enterprises Limited have filed their papers with SEBI, staffing player TeamLease and Zendesk competitor Freshdesk have expressed their intent to file IPO prospectus soon.