CSE’s revival remains at an early stage, with trading suspended since 2013 and SEBI yet to receive a formal revival proposal. The exchange had earlier applied for voluntary exit in February 2025 but subsequently asked SEBI to keep the application on hold.
The biggest challenge is regulatory and market infrastructure readiness. CSE would need to meet the regulatory framework for recognised exchanges, while options include interoperability with NSE/BSE or establishing its own clearing corporation.
Financial viability remains a key concern. CSE’s earlier assessment found that setting up its own clearing corporation could take around nine years to reach breakeven, highlighting the difficulty of building a sustainable standalone exchange.
West Bengal’s backing has revived investor interest, with CSE’s unlisted shares more than doubling in three months. However, the exchange still needs to address assets, broker dues, exclusively listed companies and other regulatory requirements before a comeback can materialise.
