BSE Ltd (earlier known as Bombay Stock Exchange) became first Indian exchange to be designated as Designated Offshore Securities Market (DOSM) by United States Securities and Exchange Commission (US-SEC).
DOSM status will allow sale of securities to US investors through trading venue of BSE without registration of such securities with US SEC. This will ease trades by US investors in India and also enhance attractiveness of Indian Depository Receipts (IDRs) amongst US investors.
The new status is also expected to primarily benefit securities issued in US private placements to institutional investors. Moreover, it will provide liquid resale market which will exempt offerings by BSE-listed companies, making them more attractive to US investors.
Bombay Stock Exchange (BSE) :
BSE is Indian stock exchange located at Dalal Street, Mumbai (Maharashtra). It was established in 1875 (founded by Premchand Roychand as Native Share & Stock Brokers’ Association), making it Asia’s first stock exchange. It was first Indian stock exchange to be recognized by Government under the Securities Contracts Regulation Act in 1957. It has established India’s first international exchange India INX in December 2016 in GIFT city, Gujarat.
BSE’s popular equity index -S&P BSE SENSEX is India’s most widely tracked stock market benchmark index.