The National Spot Exchange Ltd (NSEL) has firmed up plans to launch 15 commodities under the e-series to develop a commodity-based cash or investment segment, where retail investors can park funds anticipating price appreciation.

The NSEL promoters, Financial Technologies Ltd, also wants to bring down its holding to 26% from the present 99% ( NAFED holds 1%) once the commodity exchange attains Rs 500 crore turnover from its present Rs 60 crore.

Anjani Sinha, managing director and chief executive officer, on Wednesday said while the new 15 commodities under e-series would form a new investment segment, it would be instrumental in increasing NSEL’s turnover that would lead to dilution of the promoter’s stake.

?Commodity Exchanges are generally known for providing hedge against price risks but they do not provide any instrument for investment. NSEL’s cash segment in commodities would provide an instrument for investors to park their funds with a view to enjoy price appreciation,” he said.

Sinha said NSEL would launch steel, copper, nickel, zinc, cadmium, black pepper, guar seed, castor seed under the e-series and steel among them would be launched first, in 2-3 months or by September. NSEL, under the e-series has already launched e-gold and e-silver, which has already attained popularity among investors.

Sinha said NSEL aims at a turnover of Rs 100 crore for each of the 15 commodities, which would be gradually launched within a year, although he did not want to mention a time-frame for attaining the turnover.

However, by the time NSEL’s overall turnover touches Rs 500 crore, Financial Technologies will have brought down its stake by 73%, Sinha said. He, however, did not want to specify any time-frame for attaining the Rs 500 crore turnover but said the process of diluting the promoter’s holding would start from December this year.

?We will start to search for investors to acquire stakes from end of this year and initially the promoters will offload 5-10% stake,? Sinha said, adding that the exchange would go for an initial public offer (IPO) , when the promoter’s stake comes down to 26%.