The Bombay Stock Exchange (BSE) expects to complete its IPO by May, and is already pondering a tie-up with a foreign stock exchange partner.
The BSE faces competition from the National Stock Exchange (NSE), which has fewer firms listed on it but has higher daily turnover.
Singapore’s stock exchange is rumoured to be ready to take a 5 per cent stake in the BSE, along with other possible bidders including Deutsche Boerse, Nasdaq and the London Stock Exchange.
NYSE bought a five per cent stake in NSE for $115 million last year.
Over the Counter Exchange of India is also attracting foreign interest, from London’s Alternative Investment Market (AIM) and the Shanghai and Korean bourses, reports the Business Standard newspaper in India.