Kolkata/Mumbai: On the final day of the demutualization scheme (ended on August 28), the Calcutta Stock Exchange (CSE) has decided to pass around 4% stake to BK and KK Birla groups.

According to CSE functionaries, the CSE accepted excellent reaction from capitalists for its 52% stake. The stock exchange decision maker TK Das narrated, “The issue was oversubscribed by around 28%.” The exchange had raise 52% of its stake on the auction block.

“As many as 25 investors had applied for stake in CSE spearheaded by BSE. We shall issue shares at pro-rata basis. BSE will get 4.99% stake. But others will get less. We have got Rs 103 crore from investors, which is kept in an escrow account,” Mr. Das added.

Mr. Das said that among the top shareholders, Kesoram Industries of BK Birla group, KK Birla group’s Texmaco, the Emami group, Patton India, Hindustan National Glass of Somany group and West Bengal Infrastructure Development Finance Corporation among others.

Kesoram business executives reasserted that the company has applied for 2.5% stake in CSE for Rs 3 crore. According to indicants, Texmaco might enter for about 2% of CSE.

According to the informants, the Bombay Stock Exchange (BSE) purchasing a stake in CSE will aid the former in the restoration of its F&O section. BSE is likely to invite CSE affiliates to obtain membership and keenly join in the derivatives section. Approximately 95% of the CSE members are presently registered with NSE.