ALTHOUGH WE HAVE visited Ahmedabad (in Gujarat) at least 4 times, we had never been to the hectically busy Manek Chowk area in daylight, which is why we had never noticed a fine building until today, when we went to the area in the morning. After dark, the area is so busy that one needs to be wary of the numerous autorickshaws and motorised two-wheelers whizzing around to notice the architecture of the buildings overlooking the frenetic bazaar.

 

The building we noticed this morning (1 December 2025) has a facade with some neo-classical detailing and jharokhas (projecting windows). Overall, this edifice, which is far more elegant than its neighbours,  has a European appearance. Above its main entrance, you can see the following words (in English): “The Ahmedabad Share and Stock Brokers Association”.

 

According to a website (https://www.knocksense.com/ahmedabad/exploring-the-history-of-ahmedabad-stock-exchange-a-symbol-of-entrepreneurship-since-1894), until 1996 :

“… Ahmedabad Stock Exchange functioned in a building constructed in 1919 when the Bombay Share and Stock Brokers association collaborated with the Ahmedabad Share and Stock Brokers association. And that heritage style building served as ASE’s home before it was shifted to Kamdhenu complex in 1996.”

The Kamdhenu Complex is in the outskirts of Ahmedabad.

 

Following the establishment of the Bombay Stock Exchange in 1875, the Ahmedabad Stock Exchange (‘ASE’) was set up in 1894. At that time and until well after Independence,  Gujarat was part of the former Bombay Presidency. According to an article in Wikipedia, at first:

“… stock exchange functioned under the framework of the Bombay Securities Contracts Act, 1925. Following the passage of The Securities Contract Regulations Act, 1956 the Gujarat Share & Stock Exchange, Indian Share and General Exchange Association and Bombay Share and Stock Exchange, Share and Stock Brokers Association merged with the Ahmedabad Share and Stock Brokers Association and gave rise to ASE.”

 

The ASE was India’s second oldest stock exchange, the oldest being in Bombay. As already noted, the ASE functioned in the elegant, now disused edifice we saw at Manek Chowk today.