OCMEL is a successor company of erstwhile Bhubaneswar Stock Exchange Ltd. (BhSE). BhSE which had been functioning as a recognized stock exchange in the State of Odisha since the year 1989, has taken exit as a stock exchange w.e.f. February 09, 2015 pursuant to exit policy of Securities and Exchange Board of India (SEBI) for non-performing stock exchanges in the country. In this context, pursuant to application of BhSE for voluntary surrender of recognition and exit as a Stock Exchange, SEBI has issued an order on February 09, 2015 for exit of BhSE as a stock exchange after ensuring compliance of various formalities by BhSE associated with such exit process. SEBI in its said order directed BhSE, among other requirements, to change its name and not to use the expression “Stock Exchange” or any variant of this expression in its name.

Accordingly, as it was required in the exit order issued by SEBI, the name of the Company has been changed from “Bhubaneswar Stock Exchange Ltd.” to “Odisha Capital Market & Enterprises Ltd.” w.e.f. 9th June, 2015 with the approval of the Registrar of Companies, Odisha in terms of provisions of the Companies Act, 2013. After exit of BhSE as a stock exchange, the Company now functions under a new name “Odisha Capital Market & Enterprises Ltd.” with an altered set of Memorandum and Articles of Association in terms of provisions of the Companies Act, 2013 taking the assets and liabilities of erstwhile BhSE.

The affairs of the company are controlled and supervised by the Board of Directors under the provisions of its Memorandum and Articles of Association. The duties and responsibilities of day to day management and affairs of the company are now vested with Mr. Thomas Mathew, Managing Director, who is assisted by Mr. Debasis Samantaray, Director and a team of managerial and other employees of the company.