BSE, NSE, MCX gear up for India's first bullion exchange at Gift City

The remaining share capital may be acquired or held by any other person with a maximum cap of 5 per cent per investor.

Gift City International Financial Services Centre (IFSC) is set to get India’s first spot bullion exchange and this may happen in the next six months. The government has notified regulations for setting up the bullion exchange in Gift City IFSC. They were made public on Friday. 

All the three major Indian bourses like BSE, National Stock Exchange (NSE) and Multi-Commodity Exchange (MCX) plan to compete at Gift City’s special economic zone (SEZ) by setting up their own bullion exchanges after getting formal approval from regulator International Fina­ncial Services Centre Authority (IFSCA).

The gazette notification, permitting the setting up of a bullion exchange