Pune, Feb 5: The Pune Stock Exchange (PSE) may have to go back to its own premises.Its executive director PL Kadlaskar said the decision to shift it from the rented location in the Pune Municipal Transport (PMT) building back to Kumthekar Road would be taken by the month-end. The bourse's governing council has appointed a committee to decide on the matter, Kadlaskar added.The committee, comprising the six elected brokers of the exchange, two non-governing council brokers Sandeep Shah and Damodar Dala, the executive director of PSE as an ex-officio member, will submit a feasibility report by end-February.
The issue has arisen owing to provisions in the Chandratre committee report on de-listing, which says companies do not have to be listed on regional stock exchanges. If accepted, this could sound the death-knell for regional bourses since each company pays a substantial sum as a listing fee. The PSE, deprived of this income, is therefore, believed to be weighing the options of moving back to its ownpremises lying vacant. It will also save the annual rent of Rs 1 crore the bourse is now paying for the space in the PMT building. It is learnt that occupying its own premises will cost the PSE Rs 25 lakh annually. Sources say most brokers support the move to go back.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
