Anil Ambani-run Reliance Money may acquire five per cent more stake in the National Multi-Commodity Exchange of India (NMCE) to take its total holding to 15 per cent in line with the new guidelines.
“As per the new guidelines issued by the Forward Markets Commission (FMC), we can take an additional five per cent stake in NMCE,” Reliance Money Managing Director Sudip Bandyopadhyay told PTI here.
The next NMCE board meeting, which could take place in two months, will decide on the fund raising plans for the exchange, Bandyopadhyay said.
Last year, Reliance Money had acquired a 10 per cent stake in NMCE. The new FMC guidelines state that no single investor can hold more than 15 per cent.
“This means we have a scope to increase our stake by five per cent,” Bandyopadhyay said.
Source: PTI