BSE going public?

Bombay Stock Exchange (BSE), 137 years old stock exchange, has seen thousands of companies, getting listed on it. Now it seems to be the turn of the exchange itself to follow the same.

BSE having present equity of Rs. 10.34 crore with face value of Re. 1, has its 41% stake held by the Brokers of the BSE, 29% by domestic financial institutional and HNIs and 30% by FIIs. In August 2010, George Soros bought 3.88% stake in BSE at Rs. 380 per share, valuing it for about Rs. 3,930 crores, if post IPO, M cap of BSE falls below Rs. 4,000 crores, 25% dilution has to take place or 10% will suffice if M cap exceeds above Rs. 4,000 crores. Will it be a case of touch and go.

However, it will be interesting to see to whome BSE will choose as a recognized stock exchange. Will it be NSE (its sole rival) or upcoming MCX-SX?