The battle of bidding for the Bombay Stock Exchange stake is heating up, as Deutsche Borse has also got its supervisory board's approval to place a higher bid for the stake.
Leading European exchange operator, Deutsche Borse Group, will be picking up a 5 per cent stake in the Bombay Stock Exchange for Rs 189 crore (Rs 1.89 billion).
The discussions, if successful, would see the German major owning a majority stake of nearly 60 per cent in the combined entity, while the rest would be with NYSE Euronext.
The Bombay Stock Exchange is in the process of listing Sensex futures on Europe's largest stock exchange by market value, the Frankfurt-based Deutsche Borse AG.
Indian firms have seen a significant fall in orders in the year-to-date period.
If it goes ahead, the combination would create the world's biggest exchange by revenue.
NSE launched trading in individual stock futures in November 2001.
While stock exchanges worldwide are consolidating, not much action is happening in India due to the cap on equity holding in stock exchanges.
The Bombay Stock Exchange, the oldest bourse in Asia, is looking at listing its benchmark 30-share index Sensex on the US-based International Securities Exchange that is owned by Eurex Frankfurt AG.
Bombay Stock Exchange, under new CEO Madhu Kannan, wants to re-invent itself. Is it too late?
As many as 60 investors, overseas and domestic, private and institutional, have evinced interest in buying equity in the BSE.
ASE Capital Markets, a subsidiary of The Ahmedabad Stock Exchange, the second oldest bourse in India, is selling a part of its holding in the Bombay Stock Exchange -- the second time in less than 12 months.
The Bombay Stock Exchange is learnt to have shortlisted London, Nasdaq, Deutsche Borse, New York, and Singapore stock exchanges for the proposed sale of its 26 per cent stake.
The US-based Depository Trust & Clearing Corporation is planning to pick up 5 per cent stake in the Bombay Stock Exchange.
The latest rate cut has not yet trickled down to consumers.
Instruments such as Reits, InvITs, unsponsored GDR, GIFT find few takers.
R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
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