The promoters holding in the company stood at 45.63 % while Institutions and Non-Institutions held 17.61 % and 36.54 % respectively.Universal Commodity Exchange (UCX) is reportedly in talks to acquire Financial Technologies’ stake in Multi Commodity Exchange of India (MCX). In this regard, the UCX is in primary discussion with 2-3 foreign Institutional Investors (FIIs).
The deal size is likely to be pegged around Rs 600 -700 crore. At present, Financial Technologies hold 26% stake in MCX.
Recently, Multi Commodity Exchange of India’s (MCX) board asked promoter Financial Technologies India (FTIL) to reduce its stake to 2%, in accordance with the regulator’s order.
UCX is the sixth commodity exchange opened in April 2013. It is a joint initiative by institutions such as IDBI Bank, Indian Farmers Fertiliser Cooperative (IFFCO), National Bank for Agriculture and Rural Development (NABARD), Rural Electrification Corp. (REC) and COMMEX Technology
The deal size is likely to be pegged around Rs 600 -700 crore. At present, Financial Technologies hold 26% stake in MCX.
Recently, Multi Commodity Exchange of India’s (MCX) board asked promoter Financial Technologies India (FTIL) to reduce its stake to 2%, in accordance with the regulator’s order.
UCX is the sixth commodity exchange opened in April 2013. It is a joint initiative by institutions such as IDBI Bank, Indian Farmers Fertiliser Cooperative (IFFCO), National Bank for Agriculture and Rural Development (NABARD), Rural Electrification Corp. (REC) and COMMEX Technology
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