As per the guidelines framed by the regulator on May 14 this year, an individual promoter should not have more than one per cent while a single entity must not hold more than 40 per cent of euity in the exchange. In this case, Indiabulls Financial Services holds 74 per cent equity while MMTC shares 26 per cent.
According to the guidelines, the large shareholder having more than 40 per cent of equity in new national exchange should devise it to 40 per cent and less for which Indiabulls are in talks with a couple of financial institutions.
"Surely, we are in talks with some organistaions as we have to comply with FMC guidelines," said Indiabulls spokesperson Gagan Banga without divulging names.
