Madhya Pradesh Stock Exchange to restart

Indore, Feb 15 (PTI) If all goes well, Madhya PradeshStock Exchange (MPSE), the third oldest bourse in the country,will resume functioning from the next fiscal, a decade afterit virtually shut down.

"MPSE is likely to restart in April," a senior officer ofthe Exchange told PTI.

MPSE has signed agreements with National Stock Exchange(NSE) and Bombay Stock Exchange (BSE) under section 13 ofSecurity Contracts (Regulation) Act by virtue of which it isconnected with NSE and BSE, he said.

"The Securities and Exchange Board of India (SEBI) hasgiven its initial nod to the MPSE and the final approval fromit is expected shortly," he added.

MPSE was formed in 1919 and 315 companies and 185 memberswere listed with it. But there has been no transaction in thelast ten years.

It has launched a fresh membership drive now.

Economist Jayantilal Bhandari said that there is a needto promote capital market in smaller cities, and the restartof MPSE was welcome.

However, he said, the Exchange will face challenges inthe changed scenario.