Dubai-based NRI Siddharth Balachandran has dramatically increased his investments in India’s largest stock exchanges, solidifying his influence in the Indian financial markets. Balachandran, the executive chairman and CEO of Buimerc Corporation Ltd, now holds a notable 0.35% stake in the National Stock Exchange of India Ltd (NSEIL), equating to 7.685 million shares. His investment makes him one of the largest individual shareholders in NSEIL, which boasts a market capitalization of ₹3.21 trillion.
In addition, Balachandran has become the largest individual shareholder of the Bombay Stock Exchange Ltd (BSE), holding 3.7% of the company, or 5.0 million shares. The BSE’s market cap stands at ₹350 billion.
NSEIL, the leading stock exchange in India and the fourth largest globally, commands an impressive 93% market share in the capital market cash segment and nearly 97% in equity derivatives. This boost follows NSEIL’s recent bonus share announcement, which has spiked its valuation.
Source: Khaleej Times
