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BSE hopes to be operational in 9-12 months at Gift city


Kolkata: India’s premier bourse BSE, the first exchange to enter the just-launched International Financial Services Centre (IFSC) in Ahmedabad, said it hopes to commission its operations there within 9-12 months.

“We hope to commence exchange at IFSC in the next 9-12 months by when the remaining pending regulations will be in place,” BSE MD & CEO Ashishkumar Chauhan said here today on the sidelines of a CII organised seminar on capital market.

He said regulations from IRDA, SEBI and RBI have come but regulations from Companies Act and taxation regulations are yet to known.

The bourse, he said, had tied up with Deutche bourse to make it at the financial SEZ and to be global investor friendly.

The government aims at making IFSC vibrant on the lines of those in Dubai, Singapore and Hong Kong, which can help check the flight of trading in rupee and securities to such offshore financial hubs.

The BSE Brokers Forum had picked a three lakh sq ft space at the country’s first IFSC at the Gift City for about Rs 150 crore and intended to increase the space to 5 lakh square feet.

Chauhan said as the facility would be like any international bourse and hence BSE was looking at luring international major companies to get listed here.

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