NSE’s investor base has almost tripled since stock transfers accelerated in late March
According to the regulatory notice, a series of unlisted NSE stock activities tripled the investor base of India’s largest stock exchange, which accelerated the March 24 transfer of shares between counterparties. Easing is a pioneer in stock exchange listing. NSE applied for SEBI’s IPO in August last year and is still awaiting approval.
An exchange spokesman said that as the stock transfer process has been cut from three to four months to one day, the NSE’s investor base has nearly tripled to around April 11.
The spokesperson added: “Investor base was activated as of March 21 (the last trading day of NSE International Securities Identification Number or ISIN, allowing faster share transfers) at approximately 22,400 … and as of April 11, it was approximately 60,000.”
NSE’s ISIN is the global identifier of securities and is in pause mode until March 24. This means that the stock transfer takes up to four months, during which time, NSE must review the goodwill of potential buyers based on SEBI’s appropriate and collaborator standards. For other listed and unlisted securities, the transfer occurs on the day after the transaction (t+1).
Suitable tests show that persons holding MII shares should have financial integrity, be free from civil liability or conviction, and have a good reputation and character.
Although Sebi’s October circular was on the transfer of shares of MIIS, which MII did not take office, NSE said on March 21, after Tuhin Kanta Pandey took office as SEBI chairman, the company applied to the transfer of shares on March 21.
This led to the transfer of the stock within one day, according to the broker who traded the listed shares. Only the right person can buy stocks, and NSE designates CDSL as its store owner, which holds stock electronically in the name of the buyer in his or her Demat account. Depository participants act as intermediaries in the buyer and seller and depository (CDSL or NSDL).
“The increase in the investor base is attributed to the transfer of the day before,” said Narinder Wadhwa, managing director of ski capital services. He said the change allows investors who want to buy a small amount of stock (100 or less). Institutions and high net worth individuals (HNIS) typically buy thousands of stocks at a time.
“ISIN activation increases liquidity on the NSE counter,” said a brokerage official. He did not elaborate because he did not have the right to talk to the media.
NSE’s stock trading ₹2,260 and ₹According to exchange data, last month 700. It has a market value ₹$4 trillion, and its listed peer BSE has a market value of ₹$7985.9 billion during Tuesday’s trading period.
NSE’s top shareholders for the December quarter were India Life Insurance Corporation (10.72% stake), Aranda Investments (5%), India Stock Holdings Corporation (4.44%) and SBI Capital Markets (4.33%).
