The BSE Brokers' Forum plans to invest Rs 120 crore to set up a commercial tower at Gujarat International Finance Tec-City (GIFT) with the intention of setting up their back-office operations.
Gujarat Finance Minister Saurabh Patel handed over the allotment letter for development of the BSE commercial tower at GIFT, to BSE Brokers' Forum Vice Chairman Alok Churiwala, in the presence of Union Finance Minister Shri Arun Jaitley, here today.
India's first globally benchmarked International Financial Services Centre (IFSC), plans to host an iconic futuristic green tower for members of the BSE Brokers' Forum.
The BSE Brokers' Forum plans to invest an estimated Rs 120 crore to set up this tower to set up their back-office operations to this new location it would offer modern facilities at a significantly lower cost, according to a statement issued here. The BSE Brokers' Forum has been allotted 3 lakh square feet to develop a commercial building for their members.
The BSE is also likely to set up an exchange office in the new building at GIFT.
Currently, the BSE Brokers' Forum has 742 trading members in the equity segment and 93 trading (associate) members of the commodity segment as its members. The BSE Brokers' Forum also holds around 40 per cent equity in the Bombay Stock Exchange (BSE), the release 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 Minister Narendra 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".
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