BSE Ltd, the country's second-largest exchange in terms of volume, has written to market regulator Securities and Exchange Board of India (Sebi) about its proposed initial public offering (IPO).
"You are requested to provide your approval permitting BSE to proceed with the IPO and listing of BSE's shares on a recognized stock exchange," Nehal Vora, chief regulatory officer, BSE has written to Sebi in a communication dated January 22, 2016.
The letter comes after Sebi issued a notification dated January 11, 2016 providing clarifications on various issues to enable exchanges list their securities.
BSE had also approached Sebi in January 2013 proposing to list its shares. However, lack of clarity on certain issues had resulted in a delay in listing.
At its board meeting held in December, Sebi had provided clarity on issues such as 'fit & proper' criteria and functions of trading members.
Industry players said after a go-ahead from Sebi, BSE will be able to file its offer document with the regulator and proceed with the listing process.