Leading sugar refiner Shree Renuka Sugars and Delhi-based broker Jaypee Capital will form a consortium for picking up to 26% stake, or become an anchor investor, in commodity exchange NCDEX, according to sources.
Renuka Sugars is in talks with Crisil, one of the shareholders of NCDEX, which currently holds 12%, to pick up 7% additional stake in NCDEX for 145 a share, valuing the bourse at around 543 crore. Renuka Sugars holds 5% in NCDEX and if the deal with Crisil goes through it will hold 12%. In the case of Jaypee, NCDEX will issue fresh equity. The two would together hold 26% in NCDEX.
crackcrack| Company Name | CMP |
|---|---|
| Shree Renuka Sugar | 28.14 |
| Bajaj Hindusthan Sug | 18.80 |
| Triveni Engg. & Inds | 393.00 |
| Balrampur Chini Mill | 486.00 |
| Dalmia Bharat Sugar | 394.05 |
| View more.. | |
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