Asia’s oldest stock exchange BSE is planning to sell up to 30 percent stake in its much awaited initial public offer (IPO) that is expected to hit the market this financial year.

The exchange has been planning to file draft papers with SEBI the capital markets regulator  in July.

Edelweiss Financial Services has already been appointed by BSE as the lead merchant banker and AZB & Partners and Nishith Desai Associates as legal advisors to the issue.

For the listing, an annual general meeting (AGM) will be held by the exchange on June 24 seeking shareholder’s approval.

Subject to regulatory requirement, the IPO could be a combination of an offer for sale and fresh issue, for up to a maximum of 30 percent of the post-issue issued equity share capital of the company.

Read EquityPandit’s Technical Analysis of Indian Stock Market