|
|
Reddy in Calcutta on Friday. Picture by Kishor Roy Chowdhury
|
Calcutta, Oct. 5: The Calcutta Stock Exchange (CSE) — the only regional bourse to have met Sebi norms on ownership and governance of exchanges — may offer a rescue route to companies listed on other regional bourses that have failed to comply with the rules set by the market regulator.
The new Sebi rule had made it mandatory for bourses to have a net worth of Rs 100 crore and a turnover of Rs 1,000 crore.
B.M Reddy, managing director and chief executive officer of the CSE, today said it was hopeful of opening its trading platform to allow companies listed on other regional stock exchanges (RSEs) to get listed on the CSE.
“We are talking to the regional stock exchanges to see if we can join hands with them. There are close to 6,000-7,000 companies which are listed on these bourses. Some of these companies could come into our fold and get listed,” Reddy said on the sidelines of an event organised by the Indian Chamber of Commerce here today.
He said the CSE had sent a proposal to the market regulator to create a new member category “R” through which it could provide direct membership to RSE brokers.
The CSE is also open to listing itself on other stock exchanges. Reddy said the CSE was not “averse” to the idea, and it could happen within a few years. “A decision on this will be taken by the board. But, we are not averse to it.”
He said the company was realigning its board to meet the Sebi criterion of having 50 per cent of the directors representing public interest.
|
