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Deutsche Bank eyes DSE stake

New Delhi, May 21: Deutsche Bank is likely to pick up a 5 per cent stake in the Delhi Stock Exchange (DSE).

“Deutsche Bank is likely to buy around 5 per cent in the DSE from member brokers. The exchange has already divested 51 per cent to non-members,” DSE officials said.

The German bank is seeking the Foreign Investment Promotion Board’s approval to acquire the stake. The transfer of the stake is expected to be completed in two months.

The stock exchange, which is in the process of operationalising its trading platform, will not issue any fresh equity to the bank, the officials added.

The DSE has reserves of Rs 98 crore, a bank balance of Rs 75 crore and 379 members. Around 2,884 companies are listed on the DSE, of which, 1,800 are exclusively listed on the bourse.

The exchange had earlier sold a 5 per cent stake to overseas firms for a consideration of Rs 10.61 crore each. The firms included Mauritius-based Wilmette Holdings, Kuwait’s Noor Financial Investment and Ikarus Industrial Petroleum Company.

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