The Bombay Stock Exchange (BSE), which expects to complete its IPO by May this year, also expects to sell a large slice of itself to a foreign stock exchange.
Singapore’s stock exchange is rumoured to be ready to take a 5 per cent stake in the BSE, and other possible bidders include Deutsche Boerse, Nasdaq and the London Stock Exchange.
NYSE bought a five per cent stake in BSE rivals National Stock Exchange (NSE) for $115 million last year.
Over the Counter Exchange of India is also attracting foreign interest, from London’s Alternative Investment Market (AIM) and the Shanghai and Korean bourses, according to local press reports in India.