MCX Stock Exchange (MCX-SX), the newly formed national level stock exchange, has mandated Nomura Financial Advisory and Securities (India) Pvt Ltd to sell a stake to private equity firms, Press Trust of India reported on Wednesday, quoting unnamed sources.
MCX-SX is promoted by Financial Technologies (India) Ltd. The exchange currently runs only currency derivatives trading, while it is awaiting regulatory approval to begin equity trading.
MCX-SX plans to rope in private equity investors by diluting equity. Last month, MCX-SX sold 6.48% stake to Union Bank of India and Bank of India through a primary offering at a price of Rs 10 per share totalling to Rs 87.5 crore. This stake sale was part of its plans to offload 18% to public and private sector banks in the first round of its primary offering, PTI report said.
Last week, promoter Financial Technologies sold 5% stake in MCX-SX to IFCI for about Rs 250 crore. This was a secondary sale by Financial Technologies as it has to divest stake in MCX-SX to limit its holdings to the mandatory upper limit of 5% by a single shareholder.