FMC allows Blackstone GPV Capital Partners to raise Multi Commodity Exchange of India stake to 4.99 pct

Press Trust of India Posted online: Wednesday, Dec 18, 2013 at 0000 hrs
Leading commodity bourse the Jignesh Shah-led Multi Commodity Exchange of India Ltd (MCX) today said regulator FMC has allowed US private equity firm Blackstone to raise its stake in the exchange to 4.99 per cent.

The Forward Markets Commission (FMC) accorded its approval to Blackstone GPV Capital Partners (Mauritius) VI FII Ltd to increase its stake in the company up to 4.99 per cent through secondary market transactions, Multi Commodity Exchange of India Ltd (MCX) said in a regulatory filing.

Blackstone held 2 per cent of the exchange's equity as of September 30, according to an MCX filing with the BSE.

Increasing its stake to 4.99 per cent would make Blackstone the largest non-promoter shareholder in MCX, ahead of Aginyx Enterprises Ltd and IFCI Ltd, which each held 4.79 per cent in the bourse.

Other shareholders include Euronext NV (4.73 per cent), National Bank for Agriculture and Rural Development (3.06 per cent), Merrill Lynch Holdings Mauritius (2.79 per cent) and Bennett Coleman & Company Ltd and Corporation Bank (2.24 per cent each).

MCX share price rose 8.29 per cent to Rs 421.35 at the close on the BSE.