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BSE picks up 5 per cent in CSE

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The Bombay Stock Exchange (BSE) has purchased five per cent stake in the Calcutta Stock Exchange (CSE) for Rs 600 million as part of the corporatisation of the regional exchange.

Bombay Stock Exchange bought the stake at Rs 2,000 a share, the exchange said in a statement issued late on Tuesday.

The CSE has been valued at 12 billion rupees based on the BSE purchase value.

Calcutta Stock Exchange is the second stock exchange, after BSE, to sell stake to investors as part of the corporatisation plan for stock exchanges.

Earlier this year, BSE completed the corporatisation process by selling 51 per cent stake to various investors including Singapore Stock Exchange and Deutsche Boerse.

– Bangalore Bureau

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