Citigroup and Fidelity International have received approval to sell their stakes in the Multi Commodity Exchange of India (MCX), the commodity markets regulator Forward Markets Commission (FMC) said today.
The commission, on February 26, approved the transfer of 1,655,476 equity shares of MCX (2.03 per cent of the total equity capital) from Fid Funds (Mauritius), a Fidelity unit to Passport India Investments (Mauritius).
It also approved transfer of 3,907,540 equity shares of MCX (4.79 per cent of the total equity capital) from Citigroup Strategic Holdings Mauritius, to Aginyx Enterprises, Cyprus, the regulator said.
However, it didn’t provide a value for the sales.
Earlier, the regulator capped ownership of commodity bourses at 5 per cent for a single overseas investor in 2008, and gave the bourses until March 31 this year to comply with the ruling.
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