BSE Appoints Viral Davda as CTO, Approves ₹1.6 Lakhs Investment in New Social Stock Exchange Company
BSE Limited re-designated Viral Davda as CTO effective December 17, 2025. The company also approved acquiring 16,000 equity shares for ₹1.6 Lakhs in a new Section 8 company, a joint venture focused on social finance. This move is part of the Social Stock Exchange framework and is subject to SEBI approval.
The investment amount is relatively small compared to BSE's overall operations, but the strategic focus on social finance and the Social Stock Exchange framework could have a medium-term impact on its business diversification and market positioning.
The re-designation of a key management personnel and the investment in a new venture aimed at promoting social finance are positive developments for the company.
BSE Limited announced today, December 17, 2025, that its Board of Directors has approved key management re-designations and an investment in a new Section 8 company. Shri Viral Davda, previously Chief Information Officer (CIO), has been re-designated as Chief Technology Officer (CTO), effective from December 17, 2025. This follows an amendment to the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, and an earlier intimation on October 8, 2025.
Furthermore, the Board approved the acquisition of 16,000 equity shares, each valued at ₹10, totaling ₹160,000, in a proposed Section 8 company. This company is being jointly promoted by NABARD, SIDBI, NSE, and BSE, with the objective of undertaking activities related to capacity building, social finance, and impact investing under the Social Stock Exchange framework. The total proposed paid-up capital for this venture is ₹400,000. The acquisition is subject to the prior approval of SEBI. Details required as per SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, will be intimated in due course.
The Board meeting commenced at 15:30 hours and concluded at 16:30 hours on December 17, 2025. This announcement will be available on the company's website, www.bseindia.com.
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