Shree Renuka Sugars will sell a 7.5% stake in the NCDEX, including a 5% holding to the National Stock Exchange of India.
India-based sugar producer and exporter, Shree Renuka Sugars, has announced it will sell a 5% stake in National Commodities and Derivatives Exchange (NCDEX) to The National Stock Exchange of India (NSE).
The deal means the NSE will have a 15% stake in NCDEX – the maximum allowed under new guidelines drawn up by India’s Forwards Markets Commission (FMC).
According to sources, Renuka Sugars will sell an additional 2.5% stake to a warehousing firm, though the buyer has not been announced. The…
