BSE Ltd. has ascertained that regulatory fees and interest worth nearly Rs 165 crore will have to be paid after the market regulator ordered the stock exchange to calculate fees based on annual turnover considering notional value for options contracts.
Since the introduction of derivative contracts, the BSE has been paying the regulatory fee on annual turnover, considering the premium value for option contracts instead of the notional value, SEBI said in an order on April 26.
The total differential SEBI regulatory fees for FY 2006-2023 would be Rs 68.64 crore plus GST, BSE said in an exchange filing on Sunday. This includes an interest of Rs 30.34 crore. Further, the differential SEBI regulatory fees for FY 2023-24, if liable, could be around Rs 96.30 crore plus GST, BSE said.
The company is currently evaluating the validity of the claim as per SEBI communication, the BSE said in a statement on April 28.
The stock exchanges have to pay a regulatory fee within a period of 30 days of conclusion of the relevant fiscal.
While the total fee payable totals to Rs 164.9 crore, the stock exchange's profit before tax for December quarter was Rs 143.37 crore. BSE's profit before tax for the FY23 was Rs 297 crore.
BSE's stock fell as much as 18.64% in early trade to Rs 2,612.1 apiece on the NSE. It was trading 15.59% lower at Rs 2,713 per share, compared to a 0.16% advance in the benchmark Nifty 50 as of 09:51 a.m. The company's market capitalisation fell over Rs 6,800 crore during early trade.
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