India's BSE mandates Kotak to sell 26% strategic stake

On July 7, AsiaÆs oldest stock exchange, the Bombay Stock Exchange (BSE) announced that Kotak Mahindra Capital has been mandated to find it a strategic partner.The BSE was founded in 1875 and historically operated as an association of persons - owned by its 735 broker members who own 10,000 shares each. However, after the BSE (Corporatisation and Demutualisation) scheme of 2005 it corporatised itself the same year. The change was a means to address concerns regarding conflicts of inte…