Forward Markets Commission is likely to take a decision soon on the proposal of Bombay Stock Exchange to buy 26% stake in Ahmedabad-based National Multi Commodity Exchange (NMCE).
The commodity market regulator had in December asked all agri-bourses to maintain status quo in their shareholding pattern till guidelines were issued. The decision came after foreign firms Goldman Sachs and Fidelity bought stakes in Indian agri exchanges MCX and NCDEX.An NMCE official said the discussions on BSE’s offer to buy a stake were going on for the last several months.
If BSE is allowed to buy 26%, it would be highest by a stock exchange in any commodity exchange.The National Stock Exchange has 15% stake at leading agri commodity bourse NCDEX.
Read more in The Livemint article.
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