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Our Bureau

Mumbai , Feb. 6

FIDELITY International, a leading foreign institutional investor, has picked up 9 per cent stake in Multi Commodity Exchange of India Ltd (MCX) for $49 million (about Rs 216 crore).

This is the first foreign investment in an Indian commodity exchange. Financial Technologies (India) Ltd holds the majority stake in MCX. The exchange recently announced that it would be going for a public issue shortly.

Mr Jignesh Shah, Managing Director & CEO of MCX, said: "This investment by Fidelity proves that strategic ventures of Financial Technologies (FT) such as MCX, DGCX, NSEAP have huge value appeal for knowledgeable investors. It also clearly demonstrates the success of the innovative and unique business model of FT."

Other equity holders in MCX include State Bank of India, National Stock Exchange, LIC, HDFC Bank and a few other PSU banks.

MCX is one of the three major national commodity exchanges in the country. The other two are NCDEX and National Multi Commodities Exchange.

More Stories on : Foreign Institutional Investors | Commodity Exchanges | Mergers & Acquisitions

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