Commodity market regulator FMC is examining a proposal by NCDEX to induct Delhi-based broker Jaypee Capital Services as a strategic investor in the leading bourse.
“We are examining an application by NCDEX proposing to sell equity to Jaypee Capital Services,” Forward Markets Commission (FMC) Chairman B C Khatua said.
The NCDEX has proposed to sell fresh equity to Jaypee Capital in phases, Khatua said. However, the exchange officials declined to comment when contacted.
At present, NSE, LIC and Nabard hold 15 per cent stake each in NCDEX. Crisil and IFFCO have 12 per cent each. Punjab National Bank and Canara Bank each have 8 per cent, while Goldman Sachs, Intercontinental and Shree Renuka Sugars hold 5 per cent each.
The turnover of NCDEX has surged to Rs 8,05,707 crore in 2009 from Rs 6,28,063 crore in the previous year, according to official data.