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Our Bureau

Mumbai , Jan. 6

THE much-awaited BSE-IndoNext, the trading platform for mid-cap and small-cap companies, will kick off from tomorrow on the BSE with trading in over 500 companies.

IndoNext is a joint effort of the BSE and the Federation of Indian Stock Exchanges (FISE), which represents most of the regional stock exchanges.

The Finance Minister, Mr P. Chidambaram, will inaugurate the IndoNext in Mumbai.

In a notice to its members today, the BSE said that this segment will consist of selected companies listed in B1 and B2 groups of the BSE and companies exclusively listed on regional stock exchanges.

In the first phase, 511 companies currently traded on the BSE under the B1 and B2 group have been shifted to the BSE-IndoNext segment.

Nine scrips listed on regional stock exchanges will also be traded in this segment.

The notice said that this new segment is being introduced with a view to promote the growth and development of companies belonging to small and medium enterprises segment of the Indian industry.

Moreover, it will consolidate the order book for many small-cap companies, hitherto fragmented, thereby providing much wanted liquidity for small investors. All trades in this segment will be done through the BSE's BOLT system under the `S' group.

The norms pertaining to trading, settlement, risk management, surveillance monitoring, etc., which are applicable to existing scrips on the BSE, will also be applicable to scrips traded under this group. If any of these scrips are required to be transferred for surveillance reasons to trade-to-trade, they will be shifted to a new group called the `TS' where settlements take place on trade-to-trade basis, the notice said.

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