BSE Approves Management Re-designation and Acquisition in New Section 8 Company
BSE Limited's Board approved the re-designation of Viral Davda to CTO, effective December 17, 2025. The company will also acquire 16,000 equity shares worth ₹1.6 lakh in a new Section 8 Company, jointly promoted with NABARD, SIDBI, and NSE for social finance initiatives.
The acquisition in a new Section 8 company for social finance initiatives is a strategic move that could have long-term implications for BSE's involvement in the social stock exchange framework. The re-designation of a key management personnel is also a significant internal change.
The announcement details routine management re-designation and a strategic investment in a new entity, which are neutral corporate actions without immediate significant financial impact.
BSE Limited announced key decisions made during its Board of Directors meeting held on December 17, 2025. The board approved the re-designation of Shri Viral Davda from Chief Information Officer (CIO) to Chief Technology Officer (CTO), effective December 17, 2025. This follows an amendment to the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, and is in continuation of a previous intimation dated 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 new entity is being jointly promoted by NABARD, SIDBI, NSE, and BSE Limited, 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 Section 8 Company is ₹400,000, and BSE's acquisition is subject to the prior approval of SEBI. Further details as per SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, will be provided in due course.
The Board meeting commenced at 15:30 hours and concluded at 16:30 hours on December 17, 2025. This intimation will be available on BSE's website, www.bseindia.com.
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