IDFC Alternatives' PE arm buys minority stake in NCDEX

NCDEX enjoys distinction of being only exchange in country promoted by national-level institutions

IDFC Alternatives’ private equity arm has announced that it has purchased a minority stake in National Commodity & Derivatives Exchange Limited (NCDEX), India’s largest agri-commodity derivatives exchange, for Rs 45.6 crores, from Jaypee Capital Services Limited.   

NCDEX is the leading agri-commodity derivatives exchange in India with agricultural commodity market share of more than 70% based on Average Daily Traded Value (ADTV) and more than 80% based on open interest.

Samir Shah, CEO of NCDEX, said: “We are pleased to have IDFC Alternatives as our shareholder and I’m sure they will add strategic value through their considerable experience and insight into Indian financial markets." 

NCDEX enjoys the distinction of being the only exchange in the country promoted by national-level institutions which bring with them institution-building experience, trust, nation-wide reach, technology and risk management skills, he added.