Bombay Stock Exchange Gets Nod for IPO

Indian Stock Exchange, BSE has got clearance for its initial public offering (IPO) from the Securities and Exchange Board of India (SEBI).

BSE had filed a draft prospectus for the IPO with SEBI in September, seeking to list its shares on larger rival National Stock Exchange (NSE).

The IPO is expected to raise about $200 million, and could be launched as early as this month, banking sources have said.

A listing would come ahead of the NSE, which had filed its IPO prospectus last month.