Mumbai: Multi Commodity Exchange (MCX), the country’s biggest by turnover, has filed papers for its initial public offer (IPO) of shares with the country’s market regulator Sebi, its chairman, Venkat Chary, said on Thursday.
MCX will sell 6.43 million shares constituting 12.6% stake of the company through the IPO. Financial Technologies will sell 5.18% stake while State Bank of India will sell 4.14% stake, it said in a statement.
GLG Financial Funds will also sell its 1.53% stake in the company, the statement said.
Besides this, Corporation Bank, Bank of Baroda , Alexendra Mauritius Ltd, ICICI Lombard and General Insurance Co will sell less that 1% stake, it added.
India, which allowed futures trading in commodities in 2003, has one of the fastest growing commodity futures markets and had a combined turnover of Rs77.65 trillion ($1,739.9 bln) in the 2009-10 fiscal year ending March.