Scrip Watch

BSE Ltd

Scrip Sanctuaries for protection from the wildlife in this jungle of Indian Equities

BSE Ltd

BSE Ltd (IPO of 29955434 shares of Rs.1 each)

 Face Value – Rs.2

Price Band – Rs.805 – Rs.806

IPO Size – Rs. 1243 Crs (Upper Band) & 1242 Crs (Lower Band)

Offer For Sale – Offer for Sale of 15427197 Equity Shares of Rs 2

New Issue – 5427197 Equity Shares of Rs 2  

BRRLM – Edelweiss, Axis Capital, Jefferies, Nomura, Karvy, Motilal Oswal, SBI Capital Markets, SMC Capital Ltd, Spark Capital Advisors Pvt Ltd.

 

Consolidated Financials and Valuations for FY16 (Amt in Rs Crs unless specified)


Equity Capital

Net worth
Long Term Debt
Total  
Sales
PAT
BV
(Rs)

EPS (Rs)

P/E

Industry P/E

P/BV

Promoter’s
Stake
10.74 2449 2 658 122.53 456 22.82

 

Consolidated Financials and Valuations for H1 FY17


Equity Capital

Net worth

Total  
Sales
PAT
BV
(Rs)

EPS (Rs)

P/E

Industry P/E

P/BV

Promoter’s
Stake
10.74 2491 113 41.4 464 7.71

 

Overview:

  • BSE Ltd is the owner and operator of BSE Exchange (Bombay Stock Exchange), India’s largest stock exchange by number of companies listed.
  • BSE offers 3 business namely, Listing Business, Market Business and Data Business.
  • The Bombay Stock Exchange was established in year 1875 as the first stock exchange in Asia. Today BSE has over 5000 companies listed on it, the highest in any exchange around the world.
  • World’s two leading global exchanges, Deutsche Bourse and Singapore Exchange are strategic partners of BSE.
  • BSE offers trading in Equity, Debt Instruments, Derivatives, Mutual Funds and SME Equity.
  • The S&P BSE SENSEX is India’s most widely tracked stock market benchmark index.
  • BSE also offer services including risk management, clearing, settlement, market data services, IT services and solutions, licensing index products such as the S&P BSE SENSEX and financial & capital markets trainings.
Particulars Market Cap (US $ Bn)
LSE 3480
BSE 1521
NSE 1494

 

BSE Ltd Strengths:

  1. Strong brand recognition with a track record of innovation
  2. Diversified and integrated business model and active relationship with marketparticipants
  3. State-of-the-art infrastructure and technology

 NSE turnover:

  Six months ended 2016
  Total turnover ADTV Total turnover ADTV
Cash Market (Rs.Crs)
Equity & Equity Linked Securities 2415081 19476 4234076 17142
Fixed Income 2408 19 2907 12
Total 2417489 19495 4236983 17154

 

Management :

  • Ashishkumar Chauhan – MD & CEO
  • Sudhakar Rao – Chariman
  • Nayan Mehta – CFO

 

 

Major Shareholders:

Sr.No Non – Promoters No. of shares held % of shares held
1 Deutsche Boerse 5098886 4.7
2 State Bank of India 5098886 4.7
3 State Bank of India 5097365 4.7
4 Life Insurance Corporation of India 5019443 4.7
5 GKFF Ventures 4913863 4.6
6 Quantum (M) Limited 4015544 3.7
7 Caldwell India Holdings Inc. 4015544 3.7
8 Atticus Mauritius Ltd 4015544 3.7
9 Acacia Banyan Partners Ltd 4015544 3.7
10 Bajaj Holdings and Investment Ltd 3006796 2.8
  Total 44297415 41.3

 

  • The entire shareholding of Singapore Exchange is proposed to be offered by it in the Offer and the same is currently held in an escrow account maintained by the Escrow Agent as per the terms of the OFS Scheme.
  • Of the 4913863 Equity Shares held by GKFF Ventures, 2456931 Equity Shares are proposed to be offered by it in the Offer – and are currently held in an escrow account maintained by the Escrow Agent as per the terms of the OFS Scheme.
  • The entire shareholding of Quantum (M) Limited is proposed to be offered by it in the Offer and is currently held in an escrow account maintained by the Escrow Agent as per the terms of the OFS Scheme.
  • Of the 4015544 Equity Shares held by Caldwell India Holdings Inc., 1668906 Equity Shares are proposed to be offered by it in the Offer and are currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.
  • The entire shareholding of Atticus Mauritius Limited is proposed to be offered by it in the Offer and the same is currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.
  • Of the 4015544 Equity Shares held by Acacia Banyan Partners Limited, 2000000 Equity Shares are proposed to be offered by it in the Offer and are currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.
  • Of the 3006796 Equity Shares held by Bajaj Holdings and Investment Limited, 1503398 Equity Shares are proposed to be offered by it in the Offer and are currently held in an escrow account maintained by Escrow Agent as per the terms of the OFS Scheme.

 

Consolidated Financial Trends (In Rs.Crs) :

Particulars FY16 FY15 FY14 FY13 FY12
Equity Paid Up 10.74 10.73 10.38 10.37 10.35
Networth 2449 2461 2371 2289 2220
Total Debt 2 3 1 1 306
Net Sales 658 625 530 553 579
Other Income 42 41 45 43 41
PAT 122.53 129.74 135.19 118.84 172.44
Book Value (Rs) 456 459 457 441 429
EPS (Rs) 22.82 24.18 26.05 22.92 33.32

 

Excerpts from Gaurav’s Blog

  Rest in Peace now Gerela Saab  ! Mr S T Gerela ex GM of BSE passed away peacefully this morning We had not met in years but he always remained at the top of my mind when it came to testimonials for this is what he had said to me over a decade ago,when […] [...]

Vedanta de-listing offer price Rs 87.50~Come on Mr Anil Agarwal ! Promoter Group of  Vedanta Ltd has proposed a voluntary de-listing at an indicative offer price of Rs 87.50~are the over 7.3 lakh minority shareholders from Alibag !? …apologies to the people of Alibag Some would term this as De-listing Duplicity ~ but I would […] [...]

This is a Riskless Reliance Industries Rights Investment Strategy for those over 2.3 Million Shareholders already holding RIL shares. It is not a recommendation to buy RIL cum rights  It’s a no brainer yet I’m just penning a brief note because some have told me they hold Reliance but are skipping the Rights ! Don’t […] [...]

 Wealth is negotiable, Health is not Your Personal Well Being is more important that the Stock Market Well Being ~ Always & more so in this unfathomable ongoing Covid-19 Reality Above’s a three minute reach out by me last night to all connected with me to reinforce this .It’s also posted on Facebook , […] [...]

Yes Bank ~ Has the RBI & MOF lost it !? SEBI really is a bystander here Controversial Lock In Clause 3 Sub Clause 8 (a) in the Scheme of Reconstruction  No wonder the Finance Minister Mrs Nirmala Sitharaman, while highlighting only selected points, even when asked for details of the Scheme,did not want to […] [...]