Private sector lender Kotak Mahindra Bank has agreed to buy a 15 percent stake in Multi Commodity Exchange of India (MCX) for 4.59 billion rupees ($76.1 million), the bank said in a statement late on Sunday.
Kotak will purchase the stake from bourse operator Financial Technologies (India) Ltd and the deal is subject to regulatory approvals, the statement said.
The MCX offers trading in commodity futures including metals, crops and spices.
The Securities and Exchange Board of India, the country’s capital markets regulator, had ordered Financial Technologies to sell its entire stake in MCX in March.
- Shah Rukh Khan On Raees Clash With Kaabil: It’s Impossible To Have A Solo Release In India
- US-President Elect Donald Trump Named TIME’s Person Of The Year 2016
- O. Panneerselvam: 10 Things You Need To Know
- PM Narendra Modi Slams Opposition For Not Letting Parliament Function
- Nawazuddin Siddiqui On Working In Raees: Was Nervous To Shoot With Shah Rukh Khan
- Bathinda Dancer Murder: Video Showing Accused Opening Fire At Marriage
- 5 Lesser Known Facts About Sasikala Natarajan
- Congress Leader Shashi Tharoor’s Delhi Home Burgled: Here’s What Happened
- Reserve Bank Of India Keeps Repo Rate Unchanged Post Demonetisation
- Bigg Boss 10 Dec 06 Review: Swami Om Pees In Kitchen
- Lenovo k6 Power Video Review
- Bigg Boss 10 December 5 Review: Manveer Calls Swami Om ‘kachdaa’
- PM Narendra Modi Declared Winner Of TIME Magazine’s Person Of The Year – Reader’s Poll
- Paneerselvam sworn in as new Chief Minister of Tamil Nadu
- Tamil Nadu CM J Jayalalithaa Passes Away After Suffering Cardiac Arrest