The BSE was founded in 1875 and historically operated as an association of persons - owned by its 735 broker members who own 10,000 shares each. However, after the BSE Corporatisation and Demutualisation scheme of 2005 it corporatised itself the same year. The change was a means to address concerns regarding conflicts of interest.
As part of the changed structure, the shareholding of its members must be reduced from 100% to 49% in compliance with regulatory requirements. The BSE intends to achieve this through a 26% selldown to a...
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