National Commodity & Derivatives Exchange Ltd (NCDEX), the country’s largest agri derivatives exchange, has filed a draft red herring prospectus with SEBI for an initial public offering (IPO).
Besides a fresh issue of equity shares of ₹100 crore, the proposed IPO will also help key investors get an exit/partial exit through an offer of sale of 1.45 crore shares of the exchange.
Selling shareholders
The selling shareholders include Build India Capital Advisors LLP, Canara Bank, Investcorp Private Equity Fund I (formerly IDFC Private Equity Fund III), Punjab National Bank, Indian Farmers Fertiliser Cooperative Ltd and NABARD.
NCDEX has maintained its leadership position since 2005 in the agricultural commodity derivatives market in terms of average daily turnover by value (ADTV), said the IPO prospectus.
In FY19, it had a market share of 81.5 per cent in the agricultural commodity segment, based on an average daily turnover ( by value).