Photo: AFPMumbai: Asia’s oldest stock exchange BSE Ltd is planning to open an international stock exchange at GIFT City, India’s maiden international financial services centre in Gandhinagar, Gujarat. According to the draft prospectus, BSE plans to spend Rs50 crore to capitalize a clearing corporation and another Rs25 crore for the stock exchange. BSE will seek partnerships with other exchange operators to start the international exchange at GIFT City, the draft prospectus said. It intends to set up an international exchange and clearing corporation, both wholly owned subsidiaries. On 11 August, BSE secured approval from the ministry of corporate affairs (MCA) to set up the international exchange.

Source: Mint September 14, 2016 20:26 UTC