Delhi Stock Exchange to become first regional stock exchange to be demutualised
The Delhi Stock Exchange (DSE) lying defunct since 2004 may soon start trading once again. It is looking at diluting 51% stake to 11 investors.
About 3000 firms were listed in DSE, of which 1,800 were trading exclusively on it. DSE has been valued at Rs.400-500 crore and it has also increased its paid-up capital to Rs.3.03 crore to qualify for a BSE listing.
Two foreign entities Kuwait-based Noor Investments and US-based Horizon Assets Management Company along with Liberty Shoes, Financial Technologies and TV18 have bid for a 5% stake.
DSE is also in talks with stock exchanges of Dubai, Kuala Lumpur and Mauritius to dilute its stake and revamp the ailing exchange.
After BSE and NSE selling their stakes to foreign stock exchanges, DSE may join the list too paving the way for better technology and having an attractive trading platform for investors.
Source : http://www.labnol.org/