Ownership of Stock Exchanges :
As per the provisions of the Regulations, the shareholding or ownership of a stock exchange shall be as following:
| Shareholder | Equity share holding limit |
| Equity Share Capital to be held by Public | Atleast 51% of paid up equity capital |
| Individual resident in India [either directly or indirectly and either individually or with person acting in concert (PAC)] | Not more than 5% |
| Further
• Stock exchange • Depository • Banking company • Insurance company • Public financial Institution (acqire or hold either directly or indirectly and either individually or with PAC) |
up to 15% of the paid up equity capital |
| An Individual resident outside India (either directly or indirectly and either individually or with PAC) shall acquire or hold | Not more than 5% of the paid up equity capital |
| All the residents outside India taken together | Not more than 49% of total paid up
equity capital |
| No foreign portfolio investor shall acquire shares of a recognised stock exchange otherwise than through the secondary market. | |
| Any person who directly or indirectly and either individually or with PAC acquires 2% or more in equity capital would require to apply for approval of SEBI within 15 days of such acquisition. If the approval is not granted the shares so acquired shall be forthwith divested. Shareholders of existing recognized Exchange holding more than 2% equity may apply for approval within 90 days of commencement of these Regulations. | |
| Stock exchange, Depository, Banking company, Insurance company, Public financial Institution allowed to hold upto 15% equity capital, cannot acquire either directly or indirectly and either individually or with PAC any holding over and above 5% without the prior approval from SEBI. | |
| Every shareholder of the recognized Stock Exchange is required to be a Fit & Proper person. | |