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MSEI eyes block deals for revival

Despite starting in 2008, MSEI has failed to seriously threaten its rivals

Santanu Chakraborty & Bhuma Shrivastava | Bloomberg  |  Mumbai 

The Metropolitan Stock Exchange of India (MSEI) plans to woo brokerages to execute large stock trades on its venue, as a new management team tries to breathe life into a bourse that has floundered for a decade. Backed by billionaires Rakesh Jhunjhunwala and Radhakishan Damani, MSEI aims to wade into the block deals segment, which is worth as much as Rs 5 lakh crore ($78 billion), according to Chief Executive Udai Kumar. India's regulator defines a block as a single trade having at least 500,000 shares or a minimum value of Rs 5 crore. Money managers like dealing in large sizes ...

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First Published: Wed, August 30 2017. 23:45 IST