INSUBCONTINENT EXCLUSIVE:
Asia’s oldest bourse BSE has become the first Indian exchange to be designated as a ‘Designated Offshore Securities Market’ (DOSM) by
the United States Securities and Exchange Commission (SEC), the company said on Wednesday.
The DOSM status allows sale of securities to US
investors through the trading venue of BSE without registration of such securities with the US SEC, which eases the trades by US investors
in India.
“This is expected to primarily benefit securities issued in US private placements to institutional investors
The availability of a liquid resale market is expected to make exempt offerings by BSE-listed companies more attractive to US investors,”
BSE said.
The recognition will also enhance the attractiveness of Indian Depository Receipts (IDRs) amongst US investors
BSE’s new status will provide additional benefits to companies whose securities are traded both in the US and on BSE, it added.
“This is
an important recognition of our endeavours not only to be the most modern platform technologically, but to also provide a globally
recognised, well-regulated and well-governed venue for global investors who are looking at India with even more interest
With this status, we will continue our growth of listings and also aim to become an even better place to enable investments into India by US
investors,” said Ashishkumar Chauhan, MD CEO, BSE.
