Follow Us:
Tuesday, August 09, 2022

Jignesh Shah’s MCX dilutes stake in Dubai Gold and Commodities Exchange

MCX held 10% stake in Dubai Gold and Commodities Exchange when it began ops in 2005.

Written by PTI | New Delhi |
October 3, 2013 3:13:01 pm

India’s largest commodity bourse MCX today said it has diluted its stake to 3.4 per cent from the existing 5 per cent in the Dubai Gold and Commodities Exchange (DGCX) through rights issue option.

MCX held 10 per cent stake in DGCX when it began operations in 2005 and later reduced it to 5 per cent.

“The stake of MCX in DGCX,got diluted from 5 per cent to 3.4 per cent of the paid capital of DGCX in July 2013 due to a rights issue by DGCX,” the bourse said in a filing to the BSE.

Multi Commodity Exchange of India Ltd

Subscriber Only Stories
Delhi Confidential: Raghav Chadha strikes a lyrical note as he bids farew...Premium
PM’s Office declares assets of Ministers, Modi donates share in only prop...Premium
9 FIRs, many notices: Shrikant Tyagi’s long record of notorietyPremium
Post pandemic, employees reluctant to return, firms take offices to small...Premium

Except for the change in the shareholding percentage of MCX,there has been no other change for the exchange,it said.

MCX is promoted by Jignesh Shah’s Financial Technologies India Ltd (FTIL),which currently holds 39 per cent DGCX. FTIL is a co-promoter in Dubai-based bourse.

Related: Financial Technologies India’s statutory auditor withdraws report due to NSEL crisis

The shares of MCX rose by 4.58 per cent to Rs 399.9 a piece on the BSE at 1300 hours.

TWO IS ALWAYS BETTER | Our two-year subscription package offers you more at less

📣 Join our Telegram channel (The Indian Express) for the latest news and updates

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
First published on: 03-10-2013 at 03:13:01 pm

Featured Stories