117-year-old Calcutta Stock Exchange may mark its last Diwali as a functioning bourse

The Calcutta Stock Exchange (CSE), founded in 1908, is on track to celebrate its final Diwali as an operational stock exchange. The regulator Securities and Exchange Board of India (SEBI) is reviewing CSE’s voluntary exit application, submitted by the exchange earlier this year. Trading at the bourse has been suspended since April 2013. Once SEBI grants exit approval, CSE will transition into a holding company, and its subsidiary will continue broking business. The move reflects consolidation in India’s market-infrastructure and the decline of regional exchanges.