Calcutta Stock Exchange Unlisted Shares
vs. prev. close ₹950
52W High
₹950
52W Low
₹950
Market cap
₹174 Cr
IPO stage
No DRHP filed
CIN
U67120WB1923PLC004707
Price History
Prices adjusted for 2:1 bonus, effective 02 Oct 2026
52W High
₹950
52W Low
₹950
About Calcutta Stock Exchange Unlisted Shares
Non-operational legacy stock exchange whose FY26 profit was driven by a one-off Rs 249 crore land sub-lease gain, with a large liquid balance sheet and an unresolved SEBI exit application.
The Short Version :
The Calcutta Stock Exchange Limited (CSE), one of India's oldest regional stock exchanges (incorporated 1923), is currently non-operational as a trading venue. The company applied to SEBI in February 2025 to exit the stock exchange business, though that application is now held in abeyance following a West Bengal government proposal to support a revival. Its FY26 consolidated profit of Rs 215.95 crore (against a loss of Rs 21.76 crore in FY25) was driven almost entirely by a one-time, non-recurring gain of Rs 249.28 crore from sub-leasing 3 acres of company land at E.M. Bypass; excluding this, underlying pre-tax profit from ongoing operations was approximately Rs 12.50 crore for the year, a genuine turnaround from the FY25 operating loss, helped by the completion of a voluntary retirement scheme that cut recurring employee costs by roughly Rs 9 crore a year. Reported basic EPS was Rs 3,532.97 and book value per share about Rs 6,564 (on a very small base of 6,19,000 shares at Re 1 face value), but these reported figures are dominated by the land transaction and are not representative of a repeatable earnings run-rate.
Why It Trades Where It Does :
CSE today is best understood as an asset-backed, operationally dormant entity rather than a growth business: investments and cash together make up more than half of its roughly Rs 604.69 crore consolidated balance sheet, with minimal debt, while its core trading and listing-related revenue continues to shrink (Rs 11.43 crore in FY25 to Rs 5.19 crore in FY26). The FY26 reported ROE of roughly 53% is a direct function of the one-off land gain and should not be read as a sustainable return; on a normalized, ex-land basis, FY26 PBT was roughly Rs 12.50 crore against FY26 equity of Rs 406.33 crore, a far more modest picture, though still a real improvement from FY25's operating loss. The valuation case here rests on the value of the company's remaining real estate and investment portfolio, the profitable depository-participant subsidiary (CSE Capital Markets), and the open question of whether the exchange exits the business entirely or is revived with state government support, rather than on any current trading-related earnings momentum.
Top Risks :
CSE's core stock exchange business is non-operational, and the company's own SEBI exit application, though currently held in abeyance, means its regulatory status and long-term business model remain genuinely unresolved.
FY26's headline profit is overwhelmingly a one-time gain from a single land sub-lease transaction; excluding it, the underlying operating business generated only around Rs 12.50 crore of pre-tax profit for the year, so reported EPS, BVPS, and ROE figures should not be extrapolated as a recurring run-rate.
Revenue from core exchange operations (trading and listing-related activity) continued to decline year-on-year, consistent with a business in wind-down rather than growth.
One of the two subsidiaries, Lyons Range Securities Clearing Corporation Limited, remains non-operational and contributes only minor investment income, with no active clearing business.
The statutory auditor's report carries an Emphasis of Matter specifically drawing attention to the land sub-lease transaction given its size and impact on the year's results.
Top Opportunities :
The completed voluntary retirement scheme has structurally reduced recurring employee costs by an estimated Rs 9 crore per year, improving the company's underlying (non-land) operating economics heading into FY27.
A large, liquid, low-debt balance sheet (investments and cash exceeding half of total assets) gives the company significant financial flexibility regardless of how the SEBI exit-or-revival question is ultimately resolved.
The West Bengal government's 2026-27 budget proposal to support a revival of the exchange introduces a real scenario in which CSE could regain active relevance rather than continue winding down.
CSE Capital Markets Private Limited, the group's depository-participant subsidiary, is a genuinely active and profitable business (Rs 35.60 lakh PAT in FY26) distinct from the dormant parent exchange, and continues operating depository accounts with both CDSL and NSDL.
Disclaimer :
Priveq.in is an informational platform for unlisted and pre-IPO shares, operated by Priveq Investech Private Limited (the named counterparty on transactions). Unlisted shares carry risks including illiquidity, valuation uncertainty, and limited regulatory disclosure. This page is informational only and does not constitute investment advice.
Company Details
Industry
Stock Exchange
Founded
1908
Headquarters
Kolkata, West Bengal, India
Min Lot Size
1000
Face Value
₹1.00
Total Shares
1833750
Regulatory Information
Corporate Identity Number (CIN)
U67120WB1923PLC004707
PAN Number
AABCT8138N
ISIN
INE510I01013
Key Valuation Ratios
Valuation
Market Cap
₹174.21 Cr
P/E Ratio
0.81×
P/S Ratio
33.59×
P/B Ratio
0.43×
EV / EBITDA
0.67×
Returns & Per Share
ROE
53.15%
EPS
₹1,177.66
Book Value / Share
₹2,215.84
Solvency
Debt / Equity
0.00×
Interest Coverage
—
Company Fundamentals
As of FY2026 Annual · updated 06 Oct 2026Gross Profit
₹5.19 Cr
EBITDA
₹257.14 Cr
Revenue Growth
-54.62%
Profit Margin
4,163.84%
Performance Trends
5 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
Debt-to-Equity
0.00×
EBITDA Margin
4,957.91%
Financial Statements
| Line item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Total Income | |||||
| Revenue from operationsDisclosed | 4.27₹ Crore | 5.66₹ Crore | 12.81₹ Crore | 11.43₹ Crore | 5.19₹ Crore |
| Other incomeDisclosed | 12.48₹ Crore | 12.98₹ Crore | 14.27₹ Crore | 15.37₹ Crore | 265.71₹ Crore |
| Total IncomeDerived | 16.75₹ Crore | 18.64₹ Crore | 27.08₹ Crore | 26.8₹ Crore | 270.89₹ Crore |
| Expenses | |||||
| Cost of goods soldDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Purchases of stock-in-tradeDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Changes in inventoriesDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Employee benefits expenseDisclosed | 8.35₹ Crore | 9.71₹ Crore | 10.11₹ Crore | 11.93₹ Crore | 2.33₹ Crore |
| Finance costsDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Depreciation and amortization expenseDisclosed | 20₹ Lakh | 21.27₹ Lakh | 22.66₹ Lakh | 20.14₹ Lakh | 20.88₹ Lakh |
| Manufacturing expensesDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Operating expensesDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Other expensesDisclosed | 3.34₹ Crore | 4.23₹ Crore | 7.78₹ Crore | 28.61₹ Crore | 6.58₹ Crore |
| Total ExpensesDerived | 11.89₹ Crore | 14.15₹ Crore | 18.12₹ Crore | 40.75₹ Crore | 9.12₹ Crore |
| Profit | |||||
| Exceptional itemsDisclosed | -3.74₹ Crore | -3.22₹ Crore | -4.4₹ Crore | -4.81₹ Crore | -4.85₹ Crore |
| Profit before taxDerived | 1.12₹ Crore | 1.28₹ Crore | 4.57₹ Crore | -18.76₹ Crore | 256.93₹ Crore |
| Current tax expenseDisclosed | 53₹ Lakh | 80.33₹ Lakh | 3.85₹ Crore | 2.33₹ Crore | 46.04₹ Crore |
| Deferred tax expenseDisclosed | 48₹ Lakh | 7.56₹ Lakh | -11.8₹ Lakh | 66.42₹ Lakh | -5.06₹ Crore |
| Tax expenseDisclosed | 1.01₹ Crore | 87.89₹ Lakh | 3.74₹ Crore | 3₹ Crore | 40.98₹ Crore |
| Profit After TaxDerived | 11₹ Lakh | 39.62₹ Lakh | 83.12₹ Lakh | -21.75₹ Crore | 215.95₹ Crore |
| Other comprehensive incomeDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Total Comprehensive IncomeDerived | 11₹ Lakh | 39.62₹ Lakh | 83.12₹ Lakh | -21.75₹ Crore | 215.95₹ Crore |
Deepankar Bose
Chairman
30+
Manas Dhar
Director
30+
Chacko Joseph
Director
30+
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Current Price
₹950Secure & Verified Transaction
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About Calcutta Stock Exchange Unlisted Shares unlisted shares
Indicative · updated dailyCalcutta Stock Exchange unlisted share price today
Calcutta Stock Exchange unlisted share price today is ₹950 as of 16 October 2026.
Calcutta Stock Exchange Unlisted Shares — frequently asked questions
- What is the grey market price for Calcutta Stock Exchange?
No IPO is currently announced for Calcutta Stock Exchange, so no grey market exists; the price above reflects Priveq's own desk valuation.
- Has Calcutta Stock Exchange filed for an IPO, and when might it list?
Calcutta Stock Exchange has not filed a draft red herring prospectus, so no IPO is currently announced and no listing date has been set.
- How does Calcutta Stock Exchange compare to its listed peers?
There is no closely comparable listed company for Calcutta Stock Exchange in India today.
- Is Calcutta Stock Exchange on the SME or Mainboard IPO track?
Calcutta Stock Exchange has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is Calcutta Stock Exchange's CIN and registered office?
Calcutta Stock Exchange's Corporate Identity Number is U67120WB1923PLC004707, registered at Kolkata, West Bengal, India.
- What is Calcutta Stock Exchange's market capitalisation?
Calcutta Stock Exchange's market capitalisation is approximately ₹174 crore, based on its current unlisted share price.
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Buying, selling and holding unlisted shares
Applies to every company on Priveq- How do I buy Calcutta Stock Exchange unlisted shares?
Priveq Investech Private Limited is the named counterparty on every transaction. To buy Calcutta Stock Exchange unlisted shares: complete KYC once (PAN, Aadhaar, bank details, and demat account information — SEBI-compliant, typically approved within 24 hours), then submit your order through your Priveq dashboard specifying quantity. Our team confirms price and payment details with you directly. Once payment is confirmed, Calcutta Stock Exchange shares are transferred off-market straight to your demat account, with no pooling and no middlemen.
- How do I sell Calcutta Stock Exchange unlisted shares?
Submit an Express Sell Interest for Calcutta Stock Exchange through your Priveq dashboard, specifying quantity, the same way a buy order is placed. Priveq quotes you a bid price, which may differ from the live Buy price shown to buyers, since unlisted-share pricing works on a bid-ask basis rather than a single quote. Once you accept, you'll need to provide your Client Master List (CML), a cancelled cheque or bank details, and PAN. If you hold shares with CDSL, transfer can also be completed digitally via CDSL Easiest. You transfer Calcutta Stock Exchange shares to Priveq first, and payment follows once the transfer is confirmed received, typically the same day, T+1, or occasionally T+2, communicated to you directly. For sizeable transactions worth crores of rupees, an escrow arrangement can be used instead, at the sole consent of both parties.
- What is the minimum investment for Calcutta Stock Exchange unlisted shares?
Minimum investment varies by company and is shown as the Min Investment figure on this page. Calcutta Stock Exchange's minimum is ₹9,50,000.
- Is there a maximum investment limit?
There's no fixed maximum investment limit for Calcutta Stock Exchange unlisted shares. For sizeable transactions worth crores of rupees, an escrow arrangement can be used at the sole consent of both parties, the same mechanism available on the sell side.
- Is buying Calcutta Stock Exchange unlisted shares legal in India?
Yes. Buying and selling unlisted shares in India is legal and is subject to relevant SEBI regulations, including the mandatory lock-in period after listing, stamp duty, and depository participant charges on each transaction. Priveq's own KYC process is built to be SEBI-compliant.
- What is the lock-in period for Calcutta Stock Exchange unlisted shares?
Calcutta Stock Exchange has not filed a DRHP yet, so no listing date or lock-in period applies at this stage. Once an IPO is filed, this answer updates to reflect the applicable SME or Mainboard lock-in.
- What happens if Calcutta Stock Exchange's IPO is delayed or withdrawn?
If an IPO is delayed, shares remain unlisted and continue to trade on the desk at Priveq's indicative price, with no lock-in in effect until an actual listing happens. If a company formally withdraws its DRHP, the same applies: shares stay unlisted, with no lock-in period until and unless a fresh IPO process begins.
- How are capital gains on Calcutta Stock Exchange unlisted shares taxed?
If you sell unlisted shares, including Calcutta Stock Exchange, within 24 months of purchase, the gain is taxed as short-term capital gain at your applicable income tax slab rate. Beyond 24 months, it is taxed as long-term capital gain at 12.5 percent, without indexation benefit, under the rules effective from 23 July 2024. If Calcutta Stock Exchange lists and you sell after listing, the applicable tax treatment shifts to listed-security rates, with the holding period still measured from your original unlisted purchase date. This is general information, not tax advice; investors should confirm their specific position with a tax advisor.
- Can NRIs invest in Calcutta Stock Exchange unlisted shares?
Yes, on a non-repatriable basis. NRIs can invest using funds from an NRO account; sale proceeds stay within India unless repatriated separately under RBI's own limits. Priveq does not currently support repatriable investment (NRE/FCNR-funded), which would require the investee company to file additional RBI paperwork as foreign direct investment.
- Does Priveq charge a platform fee on top of the share price?
No. The price quoted to you is all-in; there is no separate platform fee or brokerage added on top.
- How does Priveq determine the desk price for Calcutta Stock Exchange?
Priveq's desk price reflects several inputs together, not a single formula: the seller's ask price at the time, current demand and supply on the platform for Calcutta Stock Exchange specifically, broader sentiment in the unlisted and pre-IPO market, how Calcutta Stock Exchange's sector and listed peers are trading, the company's own recent financial performance and IPO-stage developments, and recent transaction history where deals have actually closed.
Because unlisted shares trade over the counter rather than on an exchange, this price is indicative, not a continuously live quoted market price, and the actual deal price is confirmed with you directly before a transaction closes.
- Is Priveq SEBI-registered? Does it give investment advice?
Priveq is not a SEBI-registered stock exchange and not a SEBI-registered investment adviser. Priveq Investech Private Limited operates Priveq.in as a research and information platform for unlisted and pre-IPO shares, and is the named counterparty on transactions executed through the platform. Nothing on this page is investment advice; it's information to help you evaluate a company and decide for yourself.
- Am I eligible to invest through Priveq if I'm not an HNI?
Yes. Priveq isn't a stock exchange with membership restrictions, and investing isn't limited to HNIs. Depending on the company, entry points can start as low as ₹20,000, though the minimum for any specific company is shown as the Min Investment figure on its page.
- What documents do I receive after buying unlisted shares?
You receive an email acknowledging and confirming your order, along with a deal note or invoice recording the transaction details.
- What happens to my shares or money if a deal falls through?
Because Priveq is the direct counterparty on every transaction rather than just connecting a buyer and seller, this risk sits with Priveq, not with you. If a deal falls through after you've committed funds or shares, they remain safe, and Priveq guarantees a refund.