Ludhiana bourse receives EoIs for 25% stake

Ludhiana Stock Exchange on Saturday said it had received expression of interest from nine investors for buying a 25 per cent stake, as part of the demutualisation process of the regional bourse.

"We have received expressions of interest from nine investors, including one company, for about 25 per cent in the stock exchange," said BB Tondon, Ludhiana Stock Exchange chairman.

The bourse had forwarded the cases of the interested parties to the Securities and Exchange Board of India for its approval, he said.

Tondon said the exchange received a number of proposals but it shortlisted nine investors after due diligence.

Officials of the exchange hope the Ludhiana Stock Exchange will be able to complete the demutualisation process by August.

Ludhiana Stock Exchange, one of the regional stock exchanges in the country, has to divest 51 per cent stake according to the Securities Contract (Regulations) Act, 1956 by September 14, 2007.