Dubai-based non-resident Indian entrepreneur Siddharth Balachandran has significantly boosted his holdings in India's top two stock exchanges. This move has reinforced Balachandran's status as one of the major individual stakeholders in NSEIL (National Stock Exchange of India Ltd) and the foremost individual shareholder of the Bombay Stock Exchange Ltd. (BSE Ltd). As the executive chairman and CEO of Buimerc Corporation Ltd, Balachandran now holds 7.685 million shares, equivalent to 0.35 percent of NSEIL. He also stands as the biggest individual shareholder of BSE Ltd, with a 3.7 percent stake or 5.0 million shares.
NSEIL, currently an unlisted entity, has a market capitalization of Rs 3.21 trillion, while BSE has a market cap of Rs 350 billion. NSEIL ranks as India's largest stock exchange and the fourth largest globally, commanding nearly 93 percent of the market share in the capital market cash segment and close to 97 percent in the equity derivatives segment, with BSE Ltd making up the remainder. The recent announcement of a bonus issue has led to a sharp increase in NSEIL's valuation.
