Several Dalal Street veterans and top brokers have enlisted as selling shareholders in the initial public offering (IPO) of Asia’s oldest bourse, BSE (formerly Bombay Stock Exchange). While some are selling their shares in individual capacities, others are doing so through their firms.

According to the draft red herring prospectus (DRHP) filed by the bourse with the Securities and Exchange Board of India (Sebi), there is no fresh issue of shares and the entire IPO will be in the form of offer for sale by existing shareholders. As of September, BSE had 9,855 shareholders. Of ...