- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:33 05:50 12:21 15:48 18:46 20:03
BSE is one of the oldest stock exchanges in Asia. (FILE)
US billionaire investor George Soros has bought a four per cent stake in the Bombay Stock Exchange (BSE) for almost $35 million, a spokesman for the stock exchange said on Friday.
Soros's Quantum hedge fund acquired the stake in Asia's oldest exchange from Dubai Financial, part of state-run Dubai Holdings.
Soros paid Rs 375-380 per share, the spokesman said, asking not to be named.
There is growing interest in the thriving BSE as India's economy goes from strength to strength, with the latest deal valuing the exchange at $800 million.
It is also a boost for the BSE, which clocks average daily trading volume worth $1.2 billion, as it battles with close rival National Stock Exchange (NSE) for market share.
The Mumbai-based NSE, which was India's first computerised stock exchange, was set up by local financial institutions with government backing and quickly became a rival to its more established competitor.
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