Ahmedabad Stock Exchange: From Origin to the Present (1894-2018)

The Ahmedabad Stock Exchange (ASE), the second oldest and one of the prominent regional stock exchanges in India, was established in 1894 and played an important role in facilitating the listing and trading of securities, particularly in Gujarat. The ASE was recognized by the Securities Contract (Regulations) Act, 1956, as a permanent exchange in 1982. However, similar to many other regional stock exchanges, it faced many challenges, such as its inability to evolve with technological advancements, increased competition from the NSE and BSE, and its dwindling trading volumes, post the advent of online trading systems. In 2018, the ASE was formally permitted by SEBI to exit the business of the stock exchange.