MMTC aims to complete stake sale in Indian Commodity Exchange by 2017-end

MMTC is exiting ICEX as being a minor equity participant, it would be deprived of any say in decision making

State-run trading entity MMTC Ltd is looking at completing the sale of its residual 9.55 per cent stake in Indian Commodity Exchange Ltd (ICEX) by the end of this financial year.

A source close to the development said MMTC has already invited Expression of Interest (EoI) from interested bidders to acquire its stake in the commodity exchange.

MMTC aims to divest 32 million equity shares of face value of Rs five each through a competitive bidding process. It has appointed Keynote Corporate Services Ltd as the consultant and investment banker for the transaction.

Ved Prakash, chairman and managing director of MMTC Ltd did