Bombay Stock Exchange eyes regional offices across country

"We already have a Delhi office, we are upgrading it. We will soon open regional offices in Chennai, Ahmedabad, Hyderabad and Cochin," Madhu Kannan, managing director and chief executive officer, told reporters after opening a regional office here.

"Kolkata and Delhi will be the two other important hubs out of Mumbai as investment demand is high in the two cities," he said. The West Bengal capital, he said, represented an important trading hub in the east and currently had about 140 registered members. But less than 5 percent of the exchange's total business came from the eastern region.

Kannan said the exchange, which had 5,700 listed companies, was looking for membership increase. Stating that the exchange's market share was 12-13 percent, Kannan said: "Our goal is to increase membership in Tier II and Tier III cities and become the top one or two market players in the country.           

He said the exchange will provide incremental services to the companies registered with it. "Our aim is to stabilise our products. For that banks' and the trading communities' participation is necessary."

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