The Bangalore Stock Exchange plans to open a branch here this year.
Executive Director of the exchange V. Ravi Kumar told The Hindu here on Monday that this was part of the revival plan of the exchange. The Bangalore Stock Exchange was one of the eight permanent exchanges in the country.
“We want to put in place a trading platform now,” he said.
About 400 companies were already listed with the exchange. The revival process started in December 2009.
The focus now was on equity, debt market and individual investors.
“We hope to start active trading at the exchange by September this year,” he said. To start with, it should be easy to achieve Rs. 350 crore daily trading at the exchange.
Mr. Ravi Kumar said that on the equity side, the company was focusing on companies with Rs. 3 crore to Rs. 10 crore capital.
The listing size of these companies was expected to be Rs. 25 crore to Rs. 30 crore.
A number of companies in this segment that were already exposed to the market through other channels would like to get listed.
Proposal
Regarding debt market, he said the exchange proposed to launch a debt trading platform in partnership with the Federation of Indian Stock Exchanges. The exchange planned to put in place by July 1 a platform to take care of this segment.
However, this was subject to the approval of the Securities and Exchange Board of India.
For individual investors, it was registering deposit-based members.
Already, 78 members had registered from different parts of Karnataka.
To become a deposit-based member, one should have completed pre-university or plus two with a minimum net worth of Rs. 20 lakh.
Membership at the stock exchange would automatically entitle one to sub-brokership of Bangalore Stock Exchange Financials, its subsidiary.
The trading terminals of both NSE and BSE would be available. It hoped to have totally about 150 deposit-based members this year.
The exchange had 18 branches and 62 points of sale in Karnataka.
In Tamil Nadu, apart from a branch here, it proposed to open points of sale in some of the nearby towns. In Andhra Pradesh, it planned to revive the branch in Hyderabad and open two more branches.
