MSEI eyes block deals for revival

Despite starting in 2008, MSEI has failed to seriously threaten its rivals

The Metropolitan Stock Exchange of India (MSEI) plans to woo brokerages to execute large stock trades on its venue, as a new management team tries to breathe life into a bourse that has floundered for a decade.

Backed by billionaires Rakesh Jhunjhunwala and Radhakishan Damani, MSEI aims to wade into the block deals segment, which is worth as much as Rs 5 lakh crore ($78 billion), according to Chief Executive Udai Kumar. India's regulator defines a block as a single trade having at least 500,000 shares or a minimum value of Rs 5 crore. Money managers like dealing in large sizes