 "Jhunjhunwala's stake in MCX rises to 3.4%")
Rakesh Jhunjhunwala’s total shareholding in Multi Commodity Exchange (MCX) has risen to 3.41 per cent, according to the June quarter shareholding pattern disclosed by the exchange on Wednesday.
While billionaire investor Jhunjhunwala had bought 1.45 per cent stake in the June quarter, on Tuesday, he purchased an additional 1.96 per cent stake from Financial Technologies India Ltd (FTIL), the exchange’s promoter.
The June quarter saw exits by three shareholders who owned more than one per cent stake in the exchange — BNP Paribas Arbitrage (1.45 per cent), Corporation Bank (1.77 per cent) and CLSA (Mauritius) Ltd (1.26 per cent). Meanwhile, Barca Global Master Fund LP has purchased 1.25 per cent stake in MCX.
In a filing to BSE on Wednesday, FTIL said it had sold two per cent stake in MCX on Tuesday, adding it “continues the discussions on disinvestment with prospective buyers and, on reaching a definitive offer, the company may consider the disinvestment to such bidders”.
FTIL’s 20 per cent stake in MCX involves a lock-in, which is set to expire in March 2015. The company will have to secure the Securities and Exchange Board of India’s approval for divesting stake before the lock-in is over.
While billionaire investor Jhunjhunwala had bought 1.45 per cent stake in the June quarter, on Tuesday, he purchased an additional 1.96 per cent stake from Financial Technologies India Ltd (FTIL), the exchange’s promoter.
The June quarter saw exits by three shareholders who owned more than one per cent stake in the exchange — BNP Paribas Arbitrage (1.45 per cent), Corporation Bank (1.77 per cent) and CLSA (Mauritius) Ltd (1.26 per cent). Meanwhile, Barca Global Master Fund LP has purchased 1.25 per cent stake in MCX.
In a filing to BSE on Wednesday, FTIL said it had sold two per cent stake in MCX on Tuesday, adding it “continues the discussions on disinvestment with prospective buyers and, on reaching a definitive offer, the company may consider the disinvestment to such bidders”.
FTIL’s 20 per cent stake in MCX involves a lock-in, which is set to expire in March 2015. The company will have to secure the Securities and Exchange Board of India’s approval for divesting stake before the lock-in is over.
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