BSE's shareholders plan to raise US$180m by selling down shares, there are over 200+ shareholders who are paring their stake in the company.

BSE is part of a duopoly in the Indian capital markets, however, it's overshadowed by National Stock Exchange (NSEIN IN) on all counts from market share and margins to growth. In addition, NSE plans to list over the coming months and is likely to hog investor interest when it does.

The deal doesn't score well on our framework, given lacklustre past financial performance.

This insight is part of Smartkarma. For more follow this link.