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Mumbai, March 4: You have traded in stocks on the BSE, now place bets on your favourite cricket stars. A bunch of students from IIM-Ahmedabad and IIT Rourkee have launched Cricket Stock Exchange, a gaming website, just ahead of the World Cup.
The site, www.cricstock. com, is in the form of a virtual stock exchange, where one can trade shares of Indian and international cricketers. The stock prices of cricketers will reflect their recent performance and what fans feel about them. “A lot of people are crazy about the game, including students on campus. We decided to capture the moods and sentiments of cricket fans and translate them into numbers which will be reflected in the game in the form of stock prices,” said Rahul Roushan, a final year student of a postgraduate programme at IIM-A, and one of the developers of the website.
The site, in just three days, clocked 500 registered users, from different cities of India and even countries like Pakistan, England, Australia, the US. The website has issued an initial public offering (IPO) of all the international cricketers of Test-playing countries. A person gets one million in virtual cash as soon as he registers with the website and he can use that money to buy shares of any number of these cricketers. He has to bid within a specified price range for buying the shares of different cricketers.
“Now, only 20% of the website is up with the IPO. Shares will be allocated to bidders immediately after the opening ceremony of the World Cup. The rest of the site will also be launched then, which will include trading features, discussion forums, news, profiles of cricketers etc,” said Karthik Laxman, another final year student of IIM-A, who is associated with the website.
“It’s also a fun way to learn how a stock exchange functions. You will get dividends based on how your stock-companies or your cricketers perform on field, and you can earn capital gains by selling shares of high performing cricketers,” added Laxman. All these functions will be available once the secondary market opens i.e. after the opening ceremony of the World Cup.
The idea was just too good to resist for Mitanshu Garg, a third year student of IIT Rourkee. “It was a nice business opportunity and it gave me a chance to meet new people,” said Garg, who is passionate about the game.
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