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Kolkata Stock Exchange: Revival on the Cards?
13 Jul
Summary
- Calcutta Stock Exchange plans revival with new technology.
- Exchange has net worth over ₹300 crore, seeking to withdraw exit application.
- Revival aims to create jobs and restore Kolkata's financial hub status.
The Calcutta Stock Exchange (CSE), an 118-year-old institution, is poised for a revival, bolstered by technological upgrades and state government backing. This initiative necessitates withdrawing its voluntary exit application submitted to Sebi in February 2025.
The exchange possesses substantial capital, with a net worth over ₹300 crore, and reported income of ₹26 crore in FY25. A recent sale of land for ₹253 crore further bolsters its financial standing.
This revival effort aims to generate new employment opportunities within West Bengal and aspirations to restore Kolkata's prominence as an eastern financial hub.
State finance minister Swapan Dasgupta highlighted the revival's multifarious advantages, including easier capital access and reduced listing costs for eastern India.
However, the exchange's ability to overcome regulatory, technological, and commercial hurdles, alongside ensuring commercial viability for local brokers, will be critical to its success.
