NCDEX Submitted Draft Prospectus With SEBI for IPO:
NCDEX, the largest Agri derivatives exchange in India. The National Commodity and Derivatives Exchange wants to introduce its initial public offering. On Feb 11, the company submitted its draft papers with the Security and Exchange Board of India. The issue aimed to raise Rs 500 cr through this IPO.
Moreover, the issue provides an exit option for the existing investors the investors who want to exit in the stock exchange market. Also, the company plans required Rs 100 cr of fresh issue.
The company plans to utilize the raised amount for the contribution of the Core Settlements Guarantee Fund, and also for the NCCL requirements. The NABRD, PNB, Oman India Joint Ventur Fund, Canara Bank and IFFCO were the shareholder of the company.
The National Stock Exchange was the largest stakeholder with 15% in the entire stake. Similarly, NABARD having 11% of the stake and Indian Farmers Fertiliser Corporation having a 10% stake. Remaining shareholders, India Joint Fund has 10% of the stake, PNB has a 7.29% stake, Canara Bank has a 6% stake, and IDFC Private Equity Fund having a 5% stake.
The National Commodity and Derivatives Exchange Limited was professionally managed by the multi-commodity exchange. Furthermore, the shareholders of the company comprise of large national level institutions, large public sector bank, and organizations.