The National Stock Exchange of India Limited
(NSEIL) is being set up to provide,
comprehensive, nation-wide stock trading
facilities to investors.
The NSEIL has been incorporated as a company
limited by shares under the Companies Act,
1956. The major promoters are financial
institutions and banks which include IDBI,
ICICI, IFCI, LIC, GIC, SHCIL, IL&FS and SBI
Capital Markets. The NSEIL will promote the
National Stock Exchange. The IDBI has been
given the mandate by Government of India to
implement the project.
The NESI will have to operate two distinct
market segments the wholesale debt market for
banks and FIs, which for convenience is referred
to as the money market, and the capital market
comprising of equity and Debentures-Trading will
be screen based and there will be no trading
floor. By encouraging corporate trading
members with dealer networks, computerized
trading and short settlement cycles, the NSEIL
will be an important step in upgrading trading
facilities for investor and brining Indian
capital market in line with international
markets.
STOCK HOLDING CORPORATION OF INDIA LTD.
The Stock Holding Corporation of India Ltd.
(SHCIL) was incorporated in 1987 jointly by IDBI,
IFCI, ICICI, LIC, GIC, UTI and IRBI to act as a
Central Securities Depository in the country and
to provide will developed and fully automated
infrastructural facilities for trading,
clearance, settlement and depository services
for securities and monetary instruments.
SHCIL commenced operations in August 1988.
Following the Government mandate in 1991, SHCIL
commenced work on setting up a National
clearing and Depository System. SHCIL is the
largest custodian with about 18 million
scripts valued at about Rs. 300 bln as of
end-March 1993.
Address
Mittal Court
`B' Wing, 2nd Floor
224, Nariman Point
Mumbai - 400 021
Tel : 91 22 204 5483/84/85, 204 5499, 204 5508
Telex : 011-85021 SHC-IN
Fax : 91 22 202 7202, 202 7211
CREDIT ANALYSIS AND RESEARCH LTD. (CARE)
Credit Analysis and Research Ltd. (CARE) is a
credit rating and information services company
promoted by Industrial Development bank of India,
in association with other institutions, banks
and nonbanking finance companies. CARE has
already commenced credit rating of various debt
instruments, both long term and short term. In
course of time CARE intends to undertake
equity research and provide information inputs
on Indian corporate to meet the growing demand for
such services.
Address
IDBI Tower
Cuffe Parade
Mumbai - 400 005
Telex No. : 218 9111/1354
Fax No. : 91 22 218 8137/0411
Source: Doing Business with India
Last Update: July 31, 1998