With the aim of making hefty gains from the current bull run in stock market, the Vadodara Stock Exchange Ltd (VSE) has undertaken an exercise to sell 50% of its shareholding in country’s oldest exchange, the Bombay Stock Exchange Ltd (BSE).

VSE is providing a trading platform for the execution of deals on the Bombay Online Trading (Bolt) system to its member brokers through its wholly-owned subsidiary, Vadodara Stock Services Limited (VSSL). Being a member, VSSL has received the 10,000 shares of BSE at token price of Rs. 1 each.

In a recently convened informal meeting of all the member brokers of VSE, an unanimous decision was taken to offload 50% of BSE held by them. “Vishnu Patel, the elected director of VSE, Pankaj Bhargav, director and Jagdish Thakkar, former president, also attended the meeting,” said a broker who was present at the meeting. Sources also said that BSE had fixed the floor prices at Rs 5,200 crore. Taking the floor prices into consideration, VSE is expected to earn Rs 2.60 crore by selling 50% of the total number of BSE shares held by it. “However, the prices of shares are likely to surge to Rs 7,000 each, as compared to the floor price of Rs 5,200,” said sources, hoping that, “The VSE may get even higher amount by selling its holdings.”