Mumbai: BSE’s endeavour to support the SMEs and Startups in India has seen it listed 5 companies on its SME platform and 1 company on its Startup platform during the quarter ending December 31, 2021 – taking the total companies to 358 and 13 respectively. These 358 SMEs raised Rs. 3,794 crores, and the 13 Startups raised Rs. 58.6 crores via the BSE platform, with a market value of Rs. 47,659 crores and Rs. 261.2 crores respectively as of December 2021. BSE’s market share in the SME segment stands at 60%.
Mutual Fund – StAR MF Platform
BSE StAR MF, India’s largest Mutual Funds Distribution platform continues to grow at a remarkable pace with total number of transactions growing by 106% to reach 5 crores transactions during December 2021 quarter from 2.4 crores as compared to the December 2020 quarter. Overall, the platform achieved 12.82 crore transactions within the first 9 months of Financial Year 2021-22, as compared to 9.38 crores achieved during the entire Financial Year 2020-21.
BSE StAR MF platform continues to scale new peaks in terms of single day transactions, with the platform processing a high of 26.65 lakh transactions on 10th January 2022, outdoing its previous best single-day record of 26.52 lakh transactions on 8th November 2021. It also continues to contribute consistent net equity inflow to the Mutual Fund industry, with inflows of Rs. 21,081 crores during Q3 FY 2021-22.
The BSE StAR MF app, launched in May 2019, to help Mutual Fund Distributors register clients on a real-time basis and execute paperless transactions, has been well received by the investment community and has processed over 45 lakh transactions to date.
India International Exchange at IFSC
BSE promoted international exchange at Gift City, Gandhinagar, India INX has been growing exponentially ever since it commenced trading activities on 16th January 2017, with average daily trading turnover of USD 4.76 billion and a market share of 94%. India INX has more than USD 58 + Billion medium term notes established and over USD 34 + Billion of bond listings till date.
Owing to investments by certain strategic and financial investors, BSE’s stake in India INX has further reduced to 71.81% and BSE’s stake in India International Clearing Corporation has reduced to 69.28% as of 31st December 2021.
India INX and India ICC have invested Rs. 6.75 crores each in India International Bullion Holding IFSCA Limited – Holding Company for setting up and operationalizing the International Bullion Exchange, for its 10% stake each. BSE’s wholly owned subsidiary – BSE Technologies is the Technology Solutions provider for the International Bullion Exchange at GIFT City.
Insurance Broking
BSE Ebix Insurance Broking Private Limited, a joint venture of BSE and Ebix Fincorp Exchange Pte Ltd., is registered with Insurance Regulatory and Development Authority of India (IRDAI) as Direct (Life and General) Insurance Broker. Currently its electronic insurance broking platform is present in all the three key Insurance verticals – Auto, Health and Life, and is integrated with 7 General Insurance companies, 5 Health Insurance companies and 4 Life insurance companies – after onboarding LIC in December 2021. Further Go Digit which was in offline mode is now integrated in BSE Ebix portal.
BSE Ebix has over 4,650 active Certified Point of Sales as of December 2021. The total premium collected is Rs 1.89 crore for the quarter ending December 2021, a growth of 186% from the same period last year.
BSE holds equity stake of 40% through its subsidiary BSE Investments Limited.
BSE E-Agricultural Markets
BSE E-Agricultural Markets Ltd. (“BEAM’), a JV between BSE Investments and Frontier Agriculture Platforms Private Limited, operates a nationwide, electronic, institutionalized, transparent commodity spot trading platform to facilitate spot commodities transactions across the value chain. The BEAM platform has received regulatory approval to launch non-agri commodities on its platform for spot trade, and now working with industry participants to offer the same. It has already enrolled 788 Members – an increase of 98 members from the previous quarter. Trades worth Rs. 79 crores in 3 agricultural commodities – Bag, Jowar and Bajara, were executed on the platform during the quarter ended 31st December 2021. The company is working closely with the Government and Government Enterprises to enhance the efficiency of procurement and sales of the commodities and has received mandate from the state of Maharashtra for carrying out auction on its platform.
Power Exchange
Central Electricity Regulatory Commission (CERC) has granted registration on 12th May 2021 to Pranurja Solutions Ltd. to establish and operate a power exchange. In order to brand itself as a power exchange, the Company has changed its name to Hindustan Power Exchange Ltd. Subject to regulatory approvals, the Company proposes to commence live operations in the last quarter of financial year 2021-22. BSE has a stake of 22.61% in the power exchange through its wholly owned subsidiary, BSE Investments Limited.
BSE Administration & Supervision Ltd (“BASL”).
BASL was incorporated in March 2021. The company received approval from SEBI to administer and supervise Investment Advisers in June 2021 and has now received approval as an Accreditation Agency for investors in December 2021. As of January 5, 2022, BASL has onboarded 936 Investment Advisors on its platform. In addition, BASL has also onboarded 4 Accredited Investors as of January 2022.
Being allowed to act as a regulator to regulate conduct of a group of intermediaries in the financial markets through a subsidiary is a strong reflection of BSE’s capabilities and regulator’s confidence in the governance at BSE.
Commenting on financial performance for the quarter ended, Shri Ashishkumar Chauhan, MD & CEO, said: “Continuing to act on multiple fronts of product innovation and technology, BSE remains focussed to deliver sustained and profitable growth. We will continue our focus on improving operational performance in existing business and look at accelerating growth by enhancing the areas we operate in via new businesses”
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE and other exchanges trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
