Stock Exchanges in India

Stock Exchanges :

Stock ExchangesStock exchanges are an Organised and regulated Financial market, in simpler terms an exchange where securities such as bonds, shares and notes were bought and sold by stock brokers and traders at prices governed by the forces of demand and supply.


These exchanges basically serve as:

  1. Primary market where corporations, governments and other incorporated bodies can raise capital by channeling savings of the investors into productive ventures: and
  2. Secondary markets where investors can sell their securities to other investors for cash, thus reducing risk of investment and maintaining liquidity in the system.

There are certain stringent rules, listing requirements, and statutory requirements imposed by stock exchanges that are binding on all listed and trading parties.

Stock Exchanges in India :

In terms of legal structure, the stock exchanges in India could be segregated into two broad groups

Few stock exchanges which were set up as companies, either limited by guarantees or by shares and the 3 stock exchanges which were Association of Persons (AOP),

Stock Exchanges that were established as AOP :

The Bombay Stock Exchange (BSE India) is the oldest stock exchange in Asia and the first in India. Established in 1875 as an AOP (Association of Persons), BSE India is now a corporatised and demutualised entity incorporated under the provisions of the Companies Act, 1956.

The Ahmedabad Stock Exchange (ASE) is the second oldest exchange of India located in the city of Ahmedabad. Securities Contract (Regulations) Act, 1956 recognised it as as permanent stock exchange.In April 2018, the SEBI permitted the Ahmedabad stock exchange to exit the stock exchange business. Under the agreement, ASE will cease its activities and change its name to remove the phrase “stock exchange” from it.

Madhya Pradesh Stock Exchange (MPSE) was a stock exchange located at Indore, Madhya Pradesh, India. SEBI recognised it as Permanent Stock Exchange, until its de-recognition in 2015. Established in 1919, it was 3rd oldest stock exchange in India, and a leading stock exchange under outcry system.

Other Stock Exchanges :

SEBI recognised only 7 stock exchanges, out of all other exchanges in India.

S. NoNameValid Upto
1BSE Ltd.Permanent
2Calcutta Stock Exchange Ltd.Permanent
3India International Exchange (India INX)Dec 28, 2018
4Magadh Stock Exchange Ltd.Permanent
5Metropolitan Stock Exchange of India Ltd.Sep 15, 2018
6National Stock Exchange of India Ltd.Permanent
7NSE IFSC Ltd.May 28, 2018

Other exchanges include :

  • U.P. Stock Exchange, Kanpur — closed down in May, 2015
  • Vadodara Stock Exchange, Vadodara–granted exit by SEBI in Nov, 2015
  • Koyambtour Stock Exchange, Coimbatore — closed down in April 2013
  • Meerut Stock Exchange, Meerut
  • Over the Counter Exchange of India, Mumbai — granted exit by SEBI in Mar, 2015
  • Delhi Stock Exchange, Delhi — closed in Jan, 2017
  • Bangalore Stock Exchange, Bangalore — granted exit by SEBI in Oct, 2013
  • Bhubaneshwar Stock Exchange, Bhubaneshwar
  • Cochin Stock Exchange, Cochin — closed in May, 2014
  • Guwahati Stock Exchange, Guwahati — closed down in Jan, 2015
  • Hyderabad Stock Exchange, Hyderabad — closed down in Jan, 2013
  • Jaipur Stock Exchange, Jaipur
  • Canara Stock Exchange, Mangalore
  • Ludhiana Stock Exchange, Ludhiana
  • Chennai Stock Exchange, Chennai
  • Pune Stock Exchange, Pune — closed down in April, 2015
  • Capital Stock Exchange Kerala Ltd.,Thiruvananthapuram,Kerala

    (Visited 34 times, 1 visits today)