New Delhi: Calcutta Stock Exchange (CSE), the oldest stock exchange in the Indian subcontinent, is finally coming back after three decades. Founded on December 1, 1863, CSE was barred from trading on its platform by SEBI due to regulatory and compliance issues in April 2013.
The CSE hopes to resume operations in March–April 2024, the West Bengal Index said in a post on X on November 14.
“Buoyed by positive indications from the market regulator, CSE hopes to make a comeback as the third equity exchange in the country after National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) by March or April 2024. The Securities and Exchange Board of India (SEBI) barred the CSE from trading on its platform in April 2013 due to regulatory and compliance issues,” it added.
CSE Chief Dhiraj Chakraborty stated, "We will come back as the third equity bourse of the country soon. There is positive feedback. We have to adhere to some measures, which will be done by January 2024. We hope to resume as an independent exchange again by March-April with new technology, which will be the best in the industry."
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“With 1,842 listed companies and around 400 registered trading members, the CSE has always had an important role to play in the Indian capital market and maintains a net worth in tune with regulatory requirements,” it said in a post on X.
West Bengal Infrastructure Development Finance Corporation Ltd also holds a 3.37 percent stake in the CSE, among other corporates.