Financial Technologies India Ltd, a subsidiary of media house TV18 and Liberty Shoes are among the seven bidders interested in buying a stake in Delhi Stock Exchange (DSE) as the defunct bourse gets ready to restart operations.

?So far, we have received seven bids, including Financial Technologies, for 51% brokers’ stake in the exchange,? BB Sahny, DSE director and chairman of the demutualisation committee, said. He said that trading at the exchange could start within four months from now.

Two foreign entities, Kuwait-based Noor Investments Ltd and US-based Horizon Assets Management Company have also bid for picking up stake in the bourse. Few others are also expected to join the board, he said, adding, ?two Asian exchanges are also in talks with us.?

Sahny said the bids have been received at an enterprise value in between Rs 400-500 crore. At this value, the share price comes about Rs130-165 per share, he added.

The demutualisation process would be completed by the August 28 deadline set by the Securities & Exchange Board of India, he said. As per Sebi rules on demutualisation, every stock exchange must sell brokers? 51% equity to separate their trading and ownership rights.

Elaborating on the revival plan, Sahny said FTIL, a software solution provider to leading commodity exchanges like MCX and Dubai Gold and Commodity Exchange, has agreed to provide innovative instruments to make the platform attractive for brokers and investors.

?The exchange has to completely change the way it has been operating till now. They need to chalk out a business plan to market DSE to companies,? said former president of DSE Vijay Bhushan.

Although the decision to introduce new instruments would be taken after the demutualisation process is completed, there are proposals to convert DSE into a bourse for small and medium enterprises (SMEs) or introduce some weekly instrument, Sahni said. ?DSE easily tap onto companies which do not go for listing at the Bombay Stock Exchange,? said Bhushan

The exchange has reserves of Rs 98 crore, bank balance of Rs 75 crore and 379 members.

Currently, about 3,000 companies are listed on DSE. Of these, 1,800 are exclusively listed on the bourse, providing it Rs 2.5 crore as listing fee.