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MCX-SX has complied with SEBI’s minimum net worth requirements by issuing shares to 12 new investors post their conversion of warrants which were earlier held by FTIL.
They are Rakesh Jhunjhunwala, Trust Investment Advisors, Edelweiss Commodities Services, Viral A Parikh, Nemish S Shah HUF, Derive Investments, Kalpraj Dharamshi, Dhanesh Sumatilal Shah, Uday Shah, Madhuri Kela, Renuka Shah and Madhu Vadera Jayakumar.
This is pending SEBI approval, said a statement from the bourse. In addition, Rakesh Jhunjhunwala would also be transferred the equity shares earlier held by FTIL. Post transfer of warrants and equity by FTIL to investors, it would have completely exited MCX-SX.
Saurabh Sarkar, MD & CEO, MCX-SX, said “We welcome the new investors who have reposed faith in us. With this development, the exchange is hopeful of introducing new contracts in all existing segments shortly. We are sure that this is a very positive development and would help the exchange in rebuilding the confidence of stakeholders. Our immediate focus would be to capitalise the exchange and building the business in our existing as well as new segments.”
The bourse has also met with SEBI’s conditions for renewal of recognition.
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