The year April 2006 - March 2007 has been a landmark year for the
Bombay Stock Exchange Limited. Under the BSE (Corporatisation and
Demutualisation) Scheme, 2005 notified by Securities and Exchange Board
of India (SEBI) on May 20, 2005, the Exchange completed the
demutualisation exerercise in the month of May 2007, bringing about
separation of ownership and management. This was a watershed event in
the long history of the Exchange.
I wish to personally congratulate all stakeholders on this
transformation, which is in line with what various stock exchanges have
I am happy to report that there was overwhelming interest shown by
overseas investors as also by domestic investors in acquiring a stake
in the Exchange. The robust valuation that the Exchange received is an
expression of confidence by the investors in the capabilities of the
Exchange and a recognition of its potential.
Going forward, we remain committed to delivering superior returns to
all our stakeholders.
The year 2006-07 has also been a landmark year in terms of the
performance of the Indian capital markets. India continues to attract
significant capital inflows resulting in ever higher levels of Sensex
and most other BSE indices. The Sensex closed above the milestone mark
of 15,000 points for the first time in its history on 9th July 2007,
our Foundation Day. The strong performance of the markets is
underpinned by robust performance of the economy and impressive
Last year, I had mentioned the need to revive the F&O segment. During
the year under review, a strategy for increasing volumes in this
critical segment was devised and initial indications are that some
increase has been achieved in volumes under this segment. I am sure the
year ahead will enable us to garner a higher market share in this
I take this opportunity to express my gratitude to all stakeholders for
their whole-hearted co-operation and guidance in this critical phase of
transformation that the Exchange is going through and look forward to
your continued support to the Exchange in the future.
8th August, 2007