NCDEX files for IPO

New Delhi: National Commodity and Derivatives Exchange Limited (NCDEX) has filed its offer document with markets regulator Sebi for an initial public offering to raise about Rs 500 crore. The IPO comprises a fresh issue aggregating up to Rs 100 crore and an offer for sale of up to 1,44,53,774 equities by shareholders, according to the draft red herring prospectus (DRHP). The issue is expected to raise about Rs 500 crore, including fresh offering, merchant banking sources said.

After BSE and MCX, this would be the third listing by an exchange. Build India Capital Advisors LLP, Canara Bank, Indian Farmers Fertiliser Cooperative, Investcorp Private Equity Fund I are among the selling shareholders.

Jaypee Capital Services, National Bank for Agriculture and Rural Development, Oman India Joint Investment Fund and Punjab National Bank will also sell their stakes. Some of the key investors in NCDEX include National Stock Exchange of India, Life Insurance Corporation of India, National Bank for Agriculture and Rural Development. Indian Farmers Fertiliser Co-operative, Oman India Joint Investment Fund, Punjab National Bank, Canara Bank, Build India Capital Advisors LLP, and Investcorp Private Equity Fund I also have stakes in the exchange. NSE holds 15 per cent stake in the leading agricultural commodity exchange, while LIC and NABARD has 11.10 per cent each, IFFCO 10 per cent, OIJIF 10 per cent and Punjab National Bank 7.29 per cent among others, according the DRHP.