The National Institute of Securities Markets, set up by Sebi to educate and train market participants, will next year get a new green and energy- efficient campus, being built at a cost of Rs 325 crore near Mumbai.
The construction of this 71.58 acre campus at Patalganga near Panvel, Navi Mumbai, is expected to be completed in 2015.
It has got all necessary approvals and clearances, including from the Ministry of Environment and Forests, a senior official said.
The total estimated cost for construction of the new campus is Rs 325 crore, out of which Rs 225 crore is to be contributed by Sebi and Rs 100 crore needs to be mobilised from the market participants, the official said.
At its meeting held here yesterday, Sebi's board was given an update on the current activities of the NISM including on the construction of the new campus.
Sebi has so far released about Rs 87 crore towards the construction of the new campus, which would be a 'green, energy-efficient and environment friendly campus'.
The Sebi board was informed that the construction of student hostels and staff quarters was already underway and was expected to be completed in the first quarter of 2015. The construction of academic block commenced recently and is due for completion in the third quarter of 2015.
NISM was set up by the Securities and Exchange Board of India (Sebi) in 2005 with an objective to educate and train various stakeholders as also to promote research initiatives in the capital market space.
Sebi had provided initial general corpus of Rs 75 crore to NISM at that time for commencement of its activities and also made a further contribution of Rs 21 crore for various schools of NISM.
In addition, the institute had received contribution to the tune of Rs 40.70 crore from various other market participants such as NSE Investor Protection Fund, the Stock Exchange Investor's Protection Fund, SBI, Canara Bank, ICICI Bank and Deutsche Bank towards its activities.
The NISM has a staff strength of 51 members including seven officers of Sebi on deputation basis. Out of the total workforce at NISM, 26 are academic staff.
Activities at NISM has also increased manifold and are carried out through its six schools and a National Centre.
These are- School for Securities Education, School for Securities Information and Research, School for Regulatory Studies and Supervision, School for Investor Education and Financial Literacy, School of Certification of Intermediaries, Schools for Corporate Governance and National Centre for Finance Education.