The Calcutta Stock Exchange Limited (CSE) has moved to seek shareholders’ approval for sub-leasing three acres of land on EM Bypass to Srijan Infrapromoters LLP for Rs 253 crore, after receiving clearance from market regulator SEBI.
The approval will be sought at an Extraordinary General Meeting (EGM) scheduled to be held digitally on January 16, 2026.
The proposed meeting will allow CSE to execute the sub-lease agreement as part of its efforts to raise resources while proceeding with its exit as a stock exchange. SEBI has conveyed its no-objection to the transaction through a letter dated December 15, 2025.
Under the regulator’s conditions, the entire sub-lease amount of Rs 253 crore will be placed in an interest-bearing escrow account or fixed deposit with a scheduled bank, with a lien in favour of SEBI. The funds cannot be released without the regulator’s prior approval, sources told PTI.
The exchange said the proceeds could be used to meet any shortfall in liabilities arising from CSE’s exit from the stock exchange business, but only after exhausting its own financial resources.
CSE had earlier informed shareholders at its 102nd annual general meeting in November that Srijan Infrapromoters LLP had emerged as the highest bidder for the land parcel through a competitive bidding process conducted by property consultant JLL.
Following this, a provisional allotment letter was issued to Srijan Infrapromoters in September 2024, after which CSE approached SEBI for approval. The regulator sought several documents, including a no-objection certificate from the Kolkata Municipal Corporation, before granting its clearance.
According to CSE, the sub-lease proceeds would also be used to invest in its subsidiary to undertake stock broking activities, enabling it to provide trading opportunities to members after its exit, in line with SEBI’s exit framework.
The exchange is also exploring new business opportunities such as investment banking, non-banking financial services and margin funding in the interest of its shareholders.