Latest news with #SundararamanRamamurthy
Hans India
4 days ago
- Business
- Hans India
BSE SME platform crosses 600 listings
Mumbai: India's small and medium enterprises (SME) listing platform, the BSE SME platform, has crossed the milestone of 600 listings, the Bombay Stock Exchange (BSE) said on Tuesday. Overall money raised by these companies since their inception stands at Rs10,652 crore, with an overall market capitalisation (mcap) of Rs1,84,574 crore, according to the exchange. 'Not only has the platform crossed the milestone, but it has grown in strength from strength in recent years, raising more money with higher issue sizes,' the BSE said. In the period since January 2023 to date, the average issue size for SME IPOs on the platform has gone up to Rs32 crore, versus Rs 11 crore in the period from March 13, 2012, to December 31, 2022. Further, the funds raised to date have gone up to Rs6,109 crore in the period since January 2023 to date, versus Rs 4,544 crore in the period March 13, 2012, to December 31, 2022, the BSE stated. These bigger and bolder moves by the SMEs on the platform are also getting reinforced by their movement to the mainboard, with nearly 1/3rd of the overall companies making that transition, the exchange said. The SMEs listed on the platform also represent the economic opportunity present across the country. SMEs listed on the BSE SME platform have a pan-India presence as well as representation of various industries and segments of the country, making it a holistic picture of the economic growth of the country. 'With over 7 crore SMEs, 30 per cent share in GDP, 44 per cent share in exports and nearly 60 per cent share in employment, MSMES presents an unparalleled economic opportunity to achieve Viksit Bharat by 2047,' BSE Ltd MD and CEO Sundararaman Ramamurthy said. According to the BSE, to aid the ecosystem, the BSE SME platform recently launched a generative artificial intelligence (AI) tool to vet SME IPO documents before they can be formally filed with the exchange. Not only does this system improve the validation process of the document filing, but it also improves the efficacy and timelines in the listing process. 'Our steady and consistent growth, along with the technological appendages that are being developed, demonstrates the overall resolve of the exchange and platform to accelerate the ambition of budding entrepreneurs,' BSE's Head of Listing and SME Platform, Radha Kirthivasan, said.
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Business Standard
17-06-2025
- Business
- Business Standard
Flip in derivatives expiry days: NSE to shift to Tuesday, BSE gets Thursday
In a move that could have implications for market share dynamics, the Securities and Exchange Board of India (Sebi) has permitted the National Stock Exchange (NSE) and the BSE to alter the days for settlement of equity derivatives contracts. Derivatives contracts on the NSE will now expire on Tuesdays, moving from the current Thursday expiry. Conversely, BSE contracts will expire on Thursdays, shifting from the current Tuesday expiry. In May, the market regulator issued a circular restricting expiries to just two days a week and asked each exchange to select one. The current expiry days will remain in effect until August 31. Starting in September, both exchanges will transition to their newly designated days. The expiry day for already introduced contracts will remain unchanged, except for long-dated index options contracts, which will be realigned. Moreover, Sebi has directed the exchanges not to introduce any new weekly contracts on index futures from July 1. Prior to Sebi's decision to limit expiry days, exchanges had the flexibility to change their final settlement days for derivatives contracts, leading to frequent shifts over the past year. When limiting expiries, Sebi said that the goal was to curb hyperactivity on expiry days and reduce concentration risk in the market. The regulator had previously noted that spacing out expiry days throughout the week could provide stock exchanges with opportunities for product differentiation. NSE had initially planned to shift expiries to Mondays but had to abandon the plan after Sebi's consultation paper on expiry days, which was later approved in the regulator's March board meeting. 'NSE contracts are more liquid and are preferred by market participants. If NSE has expiries on Tuesdays, the premium just ahead of the expiry day will be lower compared to the beginning of the cycle. This will make it cheaper for participants to trade NSE contracts in the days leading up to expiry. NSE may see much more activity than what we see now,' said Sriram Krishnan, chief business development officer at NSE. Analysts believe BSE could cede some market share due to the shift in expiry days. 'Since NSE requested Tuesdays, in the overall interest of the market, we have taken Thursdays. Market share and volumes are influenced by multiple factors. At this point, it is not possible to base our analysis solely on one factor. Traditionally, Thursday has been the day of expiries for the Indian market for a very long time,' said Sundararaman Ramamurthy, managing director and chief executive officer of BSE. Shares of BSE have come off more than 10 per cent from their record highs hit last week amid concerns over market share loss. Some analysts believe this is a short-term reaction and maintain a positive outlook on the company. They believe that since trading patterns are traditionally set for Thursdays, the loss of market share may not be severe. 'With BSE moving its expiry to Thursday (currently Tuesday), it is expected to lose ₹1,500–1,800 crore in average daily premium turnover (ADPTV). This amounts to an approximate annualised pre-tax profit impact of ₹160 crore (7.8 per cent of 2026–27 estimated/FY27E adjusted profit after tax). Our 2025–26E (FY26E)/FY27E ADPTV estimates of ₹13,400 crore/₹15,300 crore are below the current market trend of FY26 to date ADPTV of ₹15,500 crore. Hence, even if we factor in the impact, our estimates will not change significantly,' said analyst Madhukar Ladha of Nuvama Research. Ladha expects BSE to lose 200–300 basis points (bps) in index option market share. Analysts also noted that BSE's market share declined 500 bps week-on-week in the second week of June. BSE's premium average daily turnover was around ₹10,500 crore in the second week, down 39 per cent week-on-week and 33 per cent lower than the average of April and May. The decline was attributed to lower volatility during the week. While in the first quarter of FY26, the average daily premium turnover rose 30 per cent quarter-on-quarter, for June, it has averaged around ₹13,800 crore.
Time of India
05-06-2025
- Business
- Time of India
CtrlS Datacenters to power BSE's critical digital infrastructure
CtrlS Datacenters to power BSE's critical digital infrastructure HYDERABAD: CtrlS Datacenters Ltd has entered a strategic partnership with the Bombay Stock Exchange (BSE) to power critical data centre infrastructure for the premier financial institution that caters to over 11 crore investors and processes over 700 crore daily transactions. With trading transitioning to electronic platforms, reliable digital infrastructure has become essential for maintaining market integrity, ensuring transaction security, and providing seamless access to financial services. The strategic collaboration underscores the critical role data centres play in modern financial markets, CtrlS said. Stressing on the need for world-class technology that is capable of supporting critical transactions, BSE CEO and managing director Sundararaman Ramamurthy said data centre infrastructure is crucial for stock exchanges. 'The shift to electronic trading has been a significant factor in the stock exchanges' use of data centres.' CtrlS Datacenters founder & CEO Sridhar Pinnapureddy said: 'The scale and criticality of BSE's operations represent not just a technological challenge, but a responsibility to India's economic sovereignty and growth.' 'Every transaction processed through our infrastructure impacts investors, businesses, and ultimately, the nation's financial health. We have engineered our solutions to deliver uncompromising reliability, microsecond-level performance, and ironclad security that BSE's operations demand,' he added. Set up in 1875, BSE is Asia's first and largest stock exchange. It is ranked the sixth largest globally by market capitalisation of around Rs 400 lakh crores (US$4.6 trillion approx) across over 5,500 listed companies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Khaleej Times
25-05-2025
- Business
- Khaleej Times
Stellar returns lure global investors to India's $5 trillion stock market
India has become a magnet for global investors, with the Bombay Stock Exchange (BSE) playing a pivotal role in channelling this interest into its vibrant capital markets by providing low entry barriers and stellar returns. Surpassing a $5 trillion market capitalisation and with foreign portfolio investor (FPI) assets under custody exceeding $900 billion, India's economic allure is undeniable, says the head of the oldest stock exchange in Asia. Sundararaman Ramamurthy, managing director and CEO of BSE — the sixth-largest stock exchange in the world — attributes this to India's status as the fastest-growing major economy, boasting a GDP growth rate exceeding 7.0 per cent over the past 15 years. 'Coupled with a well-regulated, digitally advanced market, low entry barriers, and superior returns — evidenced by the BSE Sensex's 16 per cent CAGR over 30 years compared to 11 per cent for gold and 8.5 per cent for the S&P 500 — India offers unmatched opportunities,' Ramamurthy told Khaleej Times in an interview. The BSE chief was in Dubai last week as a keynote speaker at the Indian Business and Professionals Forum. 'BSE is strategically positioned to attract both domestic and global investors. Our approach is multifaceted, focusing on enhancing ease of trading, streamlining entry norms, and leveraging unique opportunities like GIFT City to make BSE the preferred platform for international portfolio investors,' said Ramamurthy. He said the doubling of India's share in global indices and world market capitalisation over the past three years further underscores its rising prominence. 'BSE is strategically enhancing its appeal to both domestic and international investors.' To counter the trend of Indian investors trading on foreign exchanges, BSE has introduced faster trade settlements with T+1 and T+0 cycles, enabling quicker capital turnover. Initiatives like the Common Application Form (CAF), digital signatures, and SWIFT-based certifications have streamlined FPI registration, while the Common Application Tracker Portal and FPI Outreach Cell provide real-time support. 'Relaxed KYC norms for funds under the same Investment Manager further reduce onboarding time. Despite delays in implementing the common contract note — now targeted for July 2025 — BSE is collaborating with regulators and technology vendors to ensure seamless adoption, enhancing transparency and reducing operational friction,' Ramamurthy said. 'These efforts position BSE as a gateway to India's dynamic markets, with ongoing simplification to maintain its edge.' The derivatives segment has seen a remarkable turnaround under Ramamurthy's leadership, with BSE's market share soaring from near zero to nearly 20 per cent in a year. This success stems from introducing Sensex derivatives, tailored to meet the needs of traders, brokers, and institutional investors. By April 2025, BSE recorded an average daily notional turnover of $15.6 billion and a premium turnover of $1.86 billion, peaking at $6.36 billion in a single day, with engagement from 515 active members, 7.5 million active clients, and 280 FPIs. Sustaining this momentum involves deepening engagement with over 600 brokers and 500 FPIs, introducing monthly expiries, and expanding colocation facilities. BSE's focus on 'Customer Delight' emphasises exceeding expectations and innovating continuously, ensuring it remains competitive against the National Stock Exchange (NSE) by benchmarking against its own performance. BSE's $6 million investment in infrastructure over the past 15 months has bolstered its global stature. Technological advancements include expanding colocation services with high-performance servers and 15 KVA-powered racks, increasing from 100 to 350 racks with a target of 500. The BSE's clearing arm, ICCL, has enhanced its capacity to handle trades from major players, significantly boosting order processing capabilities. The trading system now processes 18 times more order messages daily, while the StAR MF platform handles over 60 million mutual fund orders annually. Artificial Intelligence (AI) and machine learning are transforming operations, with pilot programs using large language models to review Draft Red Herring Prospectuses in 25 to 40 minutes, a task that once took a week. AI-driven mechanisms also track digital media for news on listed companies, enhancing regulatory oversight and mitigating risks of market manipulation. BSE's customer-centric approach ensures inclusivity across retail investors, institutional players, and brokers. For retail investors, BSE promotes accessibility through platforms like ManekiMano, a viral video series with over 1.2 billion views, simplifying financial concepts and educating against fraud. The Investor Protection Fund conducted 14,000 events in FY25, boosting financial literacy. For institutional players, BSE offers efficient infrastructure, including colocation services and a combined order book, while engaging through industry forums to align with strategic goals. Brokers receive support for regulatory submissions and product approvals, streamlining operations, Ramamurthy added. 'With India's working-age population — 70 per cent under 30 or women — projected to be the largest globally by 2030, BSE is leveraging AI and mobile apps to enhance financial inclusion in Tier-2, Tier-3, and Tier-4 cities. Real-time surveillance, algorithmic monitoring, and cyber threat detection further build trust, positioning BSE as a trusted platform for investors to capitalise on India's high-growth economy, diverse sectors, and superior returns,' the BSE chief said.
Zawya
25-05-2025
- Business
- Zawya
IBPC Dubai and Bombay Stock Exchange forge strategic UAE-India capital corridor
Dubai, United Arab Emirates: In a historic convergence of financial leadership and cross-border collaboration, the Indian Business & Professional Council (IBPC Dubai) hosted Mr. Sundararaman Ramamurthy, Managing Director and CEO of Bombay Stock Exchange (BSE), for the inaugural UAE-India Capital Connect Series, signalling a renewed era of economic engagement between the UAE and India. The event drew prominent investors, institutional stakeholders, students, and professionals across sectors for a series of high-level sessions aimed at deepening capital market linkages and unlocking new growth channels between the two economies. 'This was a monumental day of achievement for IBPC Dubai,' stated Mr. Siddharth Balachandran, Chairman, IBPC Dubai. 'With active participation from over 10 community associations, we saw unity in diversity at its finest. As India charts its path toward becoming a USD 30 trillion economy by 2045, forums like these become critical enablers for collaborative progress.' Mr. Ramamurthy's keynote address served as both a retrospective and a forward-looking blueprint for India's capital market evolution from the formation of BSE in 1875 to its transformation into a cutting-edge digital marketplace. 'The paradigm has shifted,' said Mr. Ramamurthy. 'Post-1992 reforms, Indian markets moved from merely facilitating trades to catalysing capital formation, job creation, and trust-building. Today, with over 200 million mutual fund investors and 11,000 foreign portfolio investors, India has become a consumption-driven, resilient economy, poised for global leadership.' He emphasized the robustness of India's financial infrastructure, noting BSE's capacity to handle 1.4 million order messages per second, soon expanding to 2 million, and the platform's technological edge in latency-free trading and high-frequency environments. 'The Indian economy is like a ship capable of navigating turbulent geopolitical waters. Our market diversity and depth offer strong ballast. This is the time for Indian expatriates to not just remit but reinvest back in India through structured channels like the BSE.' His Excellency Satish Sivan, Consul General of India in Dubai, lauded the initiative as a strategic step in bolstering India-UAE economic cooperation, reinforcing the trusted, long-standing partnership between the two nations. Multiple sessions throughout the day offered tailored insights—from institutional investors to students and retail investors. Each session underscored the growing necessity of financial literacy, transparent capital access, and a shared vision for bilateral economic advancement. 'Events like these reflect the timeliness and seriousness with which we approach our dual mandate,' added Mr. Balachandran. 'We must support India-UAE trade ambitions while staying deeply rooted to our homeland's growth story.' With India recently overtaking major global economies to become the world's fifth largest, and UAE emerging as a capital gateway, the UAE-India Capital Connect Series is a testament to IBPC Dubai's commitment to strengthening people-to-market pipelines that drive real economic impact. The BSE CEO also highlighted significant opportunities in India's underrepresented SME sector, with only 1,000 of 60 million small and medium enterprises listed, and encouraged UAE investors to explore curated financial instruments, including newly launched indices tailored to mutual funds and insurance sectors. The evening's proceedings were kickstarted with speeches by Dr. Sahitya Chaturvedi, Secretary General of the IBPC, Mr. Skandan Mahalingam, Governor, IBPC Dubai and the evening closed with a Q&A session and a vote of thanks by Mr. Sunil Sinha, Vice Chairman, IBPC Dubai. For media inquiries, please contact: Nandini Vohra at nandini@
