Delhi Exchange awaiting Sebi's nod to resume trading

Having made all preparations to resume trading, the Delhi Stock Exchange (DSE) -- shut for the past eight years-- is awaiting market regulator Sebi's nod to restart operations.

The exchange officials expect the Securities and Exchange Board of India (Sebi) to grant approval soon, thereby enabling commencement of operations by June. "We are fully prepared to restart operations. We are only awaiting Sebi's nod," Delhi Stock Exchange (DSE) CEO H S Sidhu said here.

Although Sidhu did not disclose the time as to when the announcement to commence trading on the DSE will be made, but sources believe that business should start within two months.

According to official sources, after Sebi's approval, DSE board of directors will hold a meeting to decide the date of restarting trade.

Meanwhile, the exchange has added 125 new members, each of whom have paid a fee of Rs 5 lakh, taking the total number at members to 495. DSE has about 2,800 listed companies.

"We will have a business of Rs 1,000 crore within a year of starting trade. Volume of trade will be a major focus area once trade resumes," Sidhu said.