SKSESL to reduce holding in Saurashtra Kutch Stock Exchange

Saurashtra Kutch Stock Exchange Securities Limited (SKSESL) is going to reduce its stake in Saurashtra Kutch Stock Exchange (SKSE). In order to strengthen its networth, SKSESL will raise Rs 3.52 crore from the stake sale.

“We are offering shares of SKSE to the broker members of SKSESL. We will reduce our stack in SKSE by 43 percent to 55 percent from current 98 percent,” said Ashok Koyani, chief executive officer of SKSESL.

SKSESL is offering 2200 shares to its member brokers with a price of Rs 16000 per share including Rs 6000 premium. SKSESL has 347 member brokers.

Talking about SKSESL’s expansion projects, Alok Chakrawal, general manager said, “We are in a process to starts our branches in various part of India. Our prime focus is on Mumbai. Soon, we will open our branch at Mumbai as we have 100 members over there.”

SKSESL is also preparing for the IPO but it will take atleast two years time. SKSESL has more than 34000 demat accounts and daily turnover of the exchange is Rs 60-65 crore. Last year exchange got nod for trading in Future and Option (F&O). Exchange has Rs 10-15 crore turnover in F&O.