Last Diwali for Calcutta Stock Exchange, Oldest Stock Exchange Closed! Employees Offered VRS

This will be the last diwali for Calcutta Stock Exchange (CSE). One of India’s oldest stock exchanges, will soon close its doors permanently. The closure comes as part of a voluntary exit process approved by SEBI, almost 12 years after its trading operations were stopped. An Stock Exchange established in 1908 will be closed soon.

After SEBI’s approval, CSE will change into a holding company. Its subsidiary, CSE Capital Markets Pvt Ltd (CCMPL), will continue stockbroking through BSE and NSE memberships. CSE has also received SEBI’s permission to sell its 3-acre land on EM Bypass, Kolkata, to Srijan Group for ₹253 crore. The sale will be completed once SEBI gives its final exit approval. At its peak, CSE had 650 trading members and 1,749 listed companies.

CSE was founded in 1908 and played an important role in India’s stock market history. In April 2013, the Securities and Exchange Board of India (SEBI) stopped CSE’s trading. After many legal battles and failed revival plans, CSE applied for voluntary closure in February 2025. Shareholders approved the exit plan in April 2025 during an Extraordinary General Meeting (EGM).

Employees Offered VRS

CSE has offered a Voluntary Retirement Scheme (VRS) worth ₹20.95 crore to all its employees.
This step is expected to save about ₹10 crore every year. All staff members accepted the offer, except a few who are being kept on contract to help with compliance work during the closure.

About Calcutta Stock Exchange

Calcutta Stock Exchange (CSE) was based in Kolkata, India. It is owned by Ministry of Finance, Government of India. It is one of oldest stock exchanges in Asia and third largest bourse in India. It was founded in May 1908 at 2, China Bazar Street. Thirteen other regional stock exchanges have closed in the last three years under SEBI’s exit policy, including the Bangalore Stock Exchange, the Hyderabad Stock Exchange and the Madras Stock Exchange. Since 2013, there has been no trading on the CSE trading platform.

In 1830, stock exchange activities in Kolkata were conducted under a neem tree. The earliest record of dealings in securities in India records trading of the British East India Company’s loan stock. The exchange was founded on 1 December 1863 by sixteen leading stockbrokers, beginning life in rented premises on 11 Strand Road. The premises also had a library, open to the public, which could be accessed after paying an admission fee.

In 1908, the stock exchange was reconstituted in its current form, and had 150 members. The present building at the Lyons Range was constructed in 1928. The Calcutta Stock Exchange Ltd was granted permanent recognition by the Government of India with effect from 14 April 1980, under the relevant provisions of the Securities Contracts (Regulation) Act, 1956. The Calcutta Stock Exchange followed the open outcry system for stock trading until 1997, when it was replaced by C-STAR (CSE Screen Based Trading And Reporting), an electronic trading platform.