MCX looking for buyers for its stake in MCX-SX
5 Dec 2014 12:39 AM GMT
The ountry’s largest commodity exchange MCX on Thursday invited expressions of interest from potential investors to divest its stake in MCX-SX and MCX-SX Clearing Corporation Ltd. MCX has about 4.86 per cent stake in the exchange besides 63.41 crore warrants. It also holds 65 lakh equity shares of MCX-SX Clearing Corporation Ltd (MCX-SX CCL).
Investment bankers as well as other entities have been invited to come with their offers for stake acquisition in 10 days. In the wake of the payment crisis at FTIL-founded firm National Spot Exchange Ltd (NSEL), MCX was asked by Sebi to sell its stake in NSEL as it was part of the same group at that time.
The Jignesh Shah-led Financial Technologies (India) Ltd is no more a promoter in MCX and, therefore, the commodity exchange had sought SEBI’s permission to retain its stake.
Investment bankers as well as other entities have been invited to come with their offers for stake acquisition in 10 days. In the wake of the payment crisis at FTIL-founded firm National Spot Exchange Ltd (NSEL), MCX was asked by Sebi to sell its stake in NSEL as it was part of the same group at that time.
The Jignesh Shah-led Financial Technologies (India) Ltd is no more a promoter in MCX and, therefore, the commodity exchange had sought SEBI’s permission to retain its stake.
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