Kerala - Kochi   

CSE to allot shares to non-members

Staff Reporter

KOCHI: The Cochin Stock Exchange (CSE) has decided to allot additional shares to non-members as part of the Demutualisation scheme, approved by the Securities and Exchange Board of India (SEBI). Under the scheme, 51 per cent of the paid up capital has to be held by the public other than broker-members.

The CSE’s entire paid up capital is held by brokers alone.

The authorised capital of the company has been raised to allot additional shares to non-members in order to comply with the 51 per cent holding by public by way of inducting strategic and financial investors.

The allotment of these additional shares would be by way of private placement and through a competitive bidding process.

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