Calcutta Stock Exchange To Use New Town Land To Boost Revenue

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Kolkata: In an initiative to increase revenue, the ailing Calcutta Stock Exchange (CSE) has expressed interest to use its 5-acre lands on commercial purpose in New Town. They have asked for Expressions of Interest (EoI) from the construction companies.

CSE has secured the land in New Town in 2010. New building will be built on the land. Keeping 1 lakh square-foot land for their own business purpose, rest of the land will be use for commercial purpose.

The tender documents clearly stated that developer will be selected on the basis of highest additional area or highest revenue share they can offer in the project over and above the mandatory delivery of 1,00,000 square-feet. The date of placing the Expressions of Interest remain till November 12.

However, in 2012, Sebi had come up with guidelines with exit options for various stock exchanges, and non-compliant bourses in terms of annual trading turnover were asked to close down. Accordingly Sebi had asked the CSE to start the exit process.

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