Revision of minimum bid price for issue of new Membership rights of the Exchange

The Stock Exchange, Mumbai (BSE) had earlier offered 27 new Membership rights of the Exchange at a minimum bid price of Rs. 65 lakhs. The Exchange has received a very encouraging response for the same.

Considering the demand and the current market conditions, the Governing Board of the Exchange has now decided to revise the minimum bid price upward to Rs. 75,00,000/- (Rupees Seventy Five Lakhs only) for the remaining membership rights with effect from March 1, 2004.

The individuals or corporates who wish to acquire membership of "Cash Segment" of the Exchange at the prevailing price of Rs. 65 lakhs may please note that the remaining membership rights would be allotted on first-cum-first-served basis and therefore are advised to submit their applications to the Exchange as early as possible but in any case not later than February 28, 2004. Any bid received by the Exchange after the said date will not be considered for the offer price of Rs. 65,00,000 /-.