NCDEX has no IPO plans

The National Commodity and Derivatives Exchange Ltd (NCDEX) has currently no plans to float an initial public offering (IPO), at least not in the immediate future. This revelation comes close on the heals of the Multi Commodity Exchange of India's (MCX) IPO announcement.

"We will certainly let you know once we plan one," said Narendra Gupta, chief business officer, NCDEX, adding that there is no such plans currently. Talking about the cash position of the exchange Gupta said, "We are just a year and a half old and it is quite difficult to judge the cash position in such a short span of time. Look at the balance sheet, it would give you an idea about the exchange's cash position."

NCDEX had recently tied up with the International Petroleum Exchange (IPE), Europe's leading energy futures and options exchange, to launch brent crude futures on NCDEX.

NCDEX is the country's largest commodity exchange. It is a national level multi-commodity electronic exchange promoted by eight national level institutions. In just a little over 20 months of operations, the volumes have crossed over $1 billion daily.

The bourse offers trading facilities through its trading and clearing members located across 490 centres in the country and over 640 members trade on 6,500 terminals. It is the only domestic organisation which provides near-real-time spot and futures prices of commodities.

It has enabled holding of commodity balances in the electronic form and dematerialised the warehouse receipt to enable physical commodity settlements. It offers a portfolio of contracts in 39 commodities, including agricultural items, bullion, base metals and energy.