Business Update28 Jul 2024, 12:45 am
MCX to Invest Rs. 20 Crore in Associate Company India International Bullion Holding IFSC Ltd.
AI Summary
The Board of Directors of MULTI COMMODITY EXCHANGE OF INDIA LTD. has approved further investment in its Associate Company, India International Bullion Holding IFSC Ltd. (IIBH), by subscribing to the Rights Issue of 20 crore equity shares of Rs. 1/- each at par, amounting to Rs. 20 crore. This investment is subject to the maximum of 20% of the paid-up capital of IIBH and the receipt of approval from SEBI. IIBH is a holding company with two wholly owned subsidiaries under the regulation of International Financial Services Centres Authority (IFSCA) based in GIFT City, Gujarat. The transaction is at arm's length and does not involve any promoter or promoter group.
Key Highlights
- MCX to invest Rs. 20 crore in its Associate Company, India International Bullion Holding IFSC Ltd.
- The investment is subject to a maximum of 20% of the paid-up capital of IIBH and SEBI's approval.
- IIBH is a holding company with two wholly owned subsidiaries under the regulation of International Financial Services Centres Authority (IFSCA) based in GIFT City, Gujarat.
- The transaction is at arm's length and does not involve any promoter or promoter group.
- MCX is a leading commodity derivatives Exchange with the largest market share in the bullion derivatives segment.