Daijiworld Media Network – Mangalore (NR)
Inputs from : Institutional Investor.com and Economic Times
Mangalore, Sep 15: Huge influx of foreign funds from institutional investors has given rise to hopes for Inter-connected Stock Exchange of India (ISE) being revived. This move some think will create a space for small-cap companies to trade.
A collective 15% stake, amounting to Rs 60 lac is being taken in the said stock exchange by three Mauritius-based foreign institutional investors (FII’s).
The ISE was launched in the late ’90s as an alternate platform for small companies. Today it is promoted by 13 Indian exchanges, each of which hold around 3.5 to 8.5% equity stake. The promoters include the regional bourses of Bangalore, Bhubaneswar, Cochin, Coimbatore, Guwahati, Hyderabad, Jaipur, Chennai, Mangalore, Saurashtra and Madhya Pradesh.
According to informed sources the three Sebi-registered FIIs — Mavi Investments, Lotus Global Investments and Matterhorn Ventures — are each picking up a 4.9%