BSE Ltd. is reportedly seeking to launch its initial public offer (IPO) in the first quarter of fiscal 2014 through the offer-for-sale (OFS) route, two people with direct knowledge of the matter said. "If the investment bankers value the company at INR 40 billion, the exchange will dilute only 10% to raise INR 4 billion through the IPO, but if the valuation is lower, 25% stake of the existing shareholders could be sold through the IPO,” said one of the people. EBS has reportedly appointed 14 investment bankers to handle the issue, including foreign bankers Bank of America Merrill-Lynch (BofA), UBS Securities India Pvt Ltd, JP Morgan India Pvt Ltd, and Barclays Securities (India) Pvt Ltd, Edelweiss Capital Ltd, Kotak Mahindra Capital Co.

Ltd, Axis Capital Ltd, SMC Capitals Ltd, Motilal Oswal and India Infoline Ltd. The bankers are expected to file the DRHP in next few weeks. A BSE spokesman declined to comment to Mint.