The Metropolitan Stock Exchange (MSEI) board approved the issuance of equity shares worth ₹119 crores through a private placement as per the circular on their website earlier this week. The exchange will issue shares to prominent investors such as Billionbrains Garage Ventures Pvt Ltd, Rainmatter Investments, Securicorp Securities India Pvt Ltd, and Share India Securities Pvt Ltd
Following the massive 1400% surge in BSE’s share price over two years, brokers are now turning their focus to MSEI, aiming for exponential returns. Market veterans suggests they could drive MSEI shares to an unprecedented increase – especially since the stock is unlisted and subject to lesser governance.
Another Delhi based broker said “A shift of broker activity from BSE to MSEI is expected to impact BSE trading volumes and share price. Friendly broker networks could play a role in shaping MSEI’s trajectory.
Notably, Zerodha sold all its shares in BSE months ago, potentially signaling anticipation of this shift in market dynamics.
MSEI is recognized by Securities and Exchange Board of India (SEBI) under Section 4 of Securities Contracts (Regulation) Act, 1956. The Exchange was notified as a “Recognized Stock Exchange” under Section 2(39) of the Companies Act, 1956 by Ministry of Corporate Affairs, Govt. of India, on December 21, 2012.
