Bangalore stock exchange completes demutualisation

Bangalore, Aug 30 (UNI) Bangalore Stock Exchange Ltd has completed its demutualisation process by divesting 51 per cent of its equity to non trading members as approved by SEBI the offer for sale/transfer of equity from existing trading members.

The trading members of the Exchange had approved the offer for sale/issue of fresh equity in the EGC held yesterday.

The new investors were high net individuals including NRIs (on non repatriation basis) and a few corporate, a BSE release said here today.

Bids received from th e investors were in the range of RS 60 lakhs to Rs 70 lakhs for one per cent of the equity, and the exchange accepted bids at a uniform price of RS 60 lakhs for one per cent of the equity.

UNI