BSE Brokers Forum buys 3 lakh sq ft in GIFT city

Written by fe Bureau | Ahmedabad | Updated: Oct 16 2014, 06:07am hrs
The Rs 70,000-crore ambitious Gujarat International Finance Tec-City (GIFT City) on Wednesday was handed over the allotment letter for the development of commercial tower for the members of BSE Brokers Forum. Gujarat finance minister Saurabh Patel handed over the letter to BSE Brokers Forum vice-chairman Alok Churiwala.

GIFT City is Indias first globally-benchmarked International Financial Services Centre and will host an iconic futuristic Green Tower for members of BSE Brokers Forum, which will be set up at an estimated cost of R120 crore, and will host their back-office operations as it will offer modern facilities at a significantly lower cost. The Forum has been allotted 3 lakh sq ft for development of a commercial building for their members. BSE may also set up an exchange office.

The Forum has been playing a vital role in the development of the capital market in general and trading members in particular. The Forum holds around 40% equity in the BSE.