NSE's investor base tripled since it sped up share transfers

A flurry of activity in unlisted NSE shares has nearly tripled the investor base of India's largest stock exchange since it expedited the process of transferring shares between counterparties on 24 March, according to a regulatory circular.

- Ram Sahgal

MUMBAI: The easing is a precursor to a listing of the stock exchange. NSE applied for a no-objection certificate for its IPO with Sebi last August and is still awaiting approval.

With the share transfer process having been slashed from three to four months to just one day, the investor base of NSE has grown nearly three-fold from around 22,400 in late March to around 60,000 as of 11 April, a spokesperson for the exchange said.

"The investor base as on 21 March (the last trading day before NSE's International Securities Identification Number or ISIN was activated, allowing for faster share transfers) was around 22,400... and as on 11 April it is around 60,000," the spokesperson added. NSE's investor base on 3 January was around 20,500, he said.