Gujarat allocates 3 lakh sq ft for commercial tower for BSE at GIFT city

Gujarat government on Wednesday allotted 3 lakh square feet of built up area to the BSE Brokers’ Forum for setting up a commercial tower at Gujarat International Finance Tec-City (GIFT City).

The BSE Brokers’ Forum plans to invest Rs 120 crore to set up the commercial tower with the intention of setting up their back-office operations.

India’s first globally benchmarked International Financial Services Centre (IFSC) will host an iconic futuristic Green Tower for members of BSE Brokers’ Forum.

The Forum has been allotted 300,000 square feet for development of a commercial building for their members. BSE may also set up an exchange office in this new building at GIFTd.

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Currently, the BSE Brokers’ Forum has 742 trading members in the equity segment and 93 trading members (associate) of the commodity segment as its members. The BSE Brokers hold around 40 per cent stake in the Bombay Stock Exchange (BSE), the statement said.

Welcoming this development, Gujarat Finance Minister Saurabh Patel said, “Developing India’s first Global Financial Hub at GIFT City as smart city has been Prime MinisterNarendra Modi vision and the Gujarat government is taking all necessary steps with the help of the Central Government to fast track the development of GIFT City which will transform state of Gujarat and also create a large number of jobs”.