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.
Company Name | CMP |
---|---|
ICICI Securities | 755.00 |
Angel One | 2789.05 |
Motilal Oswal Fin | 2381.70 |
Share India Sec. | 1700.00 |
SMC Global Sec. | 160.80 |
View more.. |