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Report: BSE to file for IPO in July

BSE Ltd.,formerly known as Bombay Stock Exchange, is looking to file draft papers with theSecurities and Exchange Board of India in July for its proposed IPO, India's Mint reported May 8, citing "people familiar with the matter."

The stock exchange is likely to conduct its IPO in the currentfiscal year ending March 31, 2017. The bourse is seekingto raise around 8 billion rupees through the offering, the sources said.

BSE has already received in-principle approval from SEBI forthe offering. Its initial share sale program will makeit the second bourse in India to list after MultiCommodity Exchange of India Ltd.

Edelweiss Financial Services has been hired as the lead merchantbanker for the IPO, while AZB & Partners and Nishith Desai Associates will serveas legal advisers.

As of May 6, US$1 was equivalentto 66.51 Indian rupees.