MCX surges as FMC approves Blackstone stake raise plan
The stock has rallied 7% to Rs 415 on the National Stock Exchange.
Shares in Multi Commodity Exchange (MCX) has surged 7% to Rs 415 after the company said Forward Markets Commission (FMC) approved Blackstone GPV Capital partners (Mauritius) VI FII proposal to increase its stake in company upto 4.99% through secondary market transaction.
Blackstone is looking to acquire 3% stake in India’s largest commodity exchange the MCX, a move that will increase the private equity major's stake in the bourse to almost 5%. Blackstone currently holds 1.99% stake in MCX.
The stock opened at Rs 401 and touched a high of Rs 424 on the NSE. A combined around one million shares have changed hands on the counter till 0940 hours on the NSE and BSE.
Blackstone is looking to acquire 3% stake in India’s largest commodity exchange the MCX, a move that will increase the private equity major's stake in the bourse to almost 5%. Blackstone currently holds 1.99% stake in MCX.
The stock opened at Rs 401 and touched a high of Rs 424 on the NSE. A combined around one million shares have changed hands on the counter till 0940 hours on the NSE and BSE.
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First Published: Dec 18 2013 | 9:42 AM IST