"Investment limit for foreign entities in Indian stock exchanges will be enhanced from 5 to 15 per cent on par with domestic institutions. This will enhance global competitiveness of Indian stock exchanges and accelerate adoption of best-in-class technology and global market practices," a budget statement on Monday said.
The finance minister announced FDI policy reforms in insurance, pension, asset reconstruction companies and stock exchanges. Two foreign exchanges Singapore Stock exchange and Deutsche Borse hold 5 per cent have are keen to raise their take to 15 per cent in BSE.
Currently trading members hold about 49 per cent in the BSE and remaining 51 per cent is held by institutional, investors including foreign funds and domestic institutions. the top foreign shareholders include Gagil FDI Ltd (Cyprus), GS Strategic Investments Ltd, SAIF II SE Investments Mauritius Ltd and Aranda Investments (Mauritius) Pte Ltd. They hold 5 per cent each.
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