BSE to announce SME exchange rollout within a fortnight

The Bombay Stock Exchange (BSE) on Wednesday said it would announce the launch of its proposed small and medium enterprise (SME) exchange within a fortnight. “We have applied for the the Securities and Exchange Board of India (Sebi) licence. Within the next couple of weeks, we will have a clear picture and then we will be able to announce the rollout date,” BSE Managing Director and Chief Executive Madhu Kannan said. Asked about a timeframe for the launch, Kannan said, “I will let you know in a couple of weeks, as by then, we will have more clarity.”

BSE, along with the National Stock Exchange and privately-promoted MCX-SX, had applied for Sebi permission to launch SME exchanges last June. None of the applicants have got the permission so far.