Home / Markets / News / IEX plans to acquire 15% stake in Reliance ADAG platform ICEX

IEX plans to acquire 15% stake in Reliance ADAG platform ICEX

ICEX which offers futures trading in commodities which include rubber, diamond and basmati paddy among others, will issue new shares to IEX

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It is not defined as stock exchange and hence current law will permit it to start with only 5 per cent stake buy in another stock exchange

Dilip Kumar Jha Mumbai

3 min read Last Updated : Apr 28 2020 | 1:22 AM IST

The Indian Energy Exchange (IEX), the power trading platform, is planning to acquire a 15 per cent stake in the Reliance ADAG-anchored Indian Commodity Exchange (ICEX) for Rs 150 crore, according to people in the know.

The sources said talks between the two are in an advanced stage but the closing of the deal could take some time because of regulatory hurdles. The IEX is not yet recognised as a stock exchange and, hence under the current law, it can only pick a 5 per cent stake in the ICEX.

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Topics : IEX ICEX

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