The National Commodity & Derivatives Exchange Limited (NCDEX) has effectively raised ₹770 crore (approximately ₹7.70 billion) via a preferential share allotment, distributing 39,018,973 shares at an average price of around ₹197.34 per share. This substantial capital injection enhances NCDEX’s financial resources as the exchange gears up to enter the Indian equity market.
NCDEX’s ₹770 Cr Fundraise: Key Highlights
- • Total Amount Raised: ₹7,700,004,155 (~₹770 Crore)
- • Shares Issued: 39,018,973
- • Issue Price: ~₹197.34 per share
This fundraising represents a pivotal moment in NCDEX’s development, with contributions from international funds, domestic institutions, and prominent market figures.
Institutional Giants Back the Exchange
Several major financial institutions participated in the NCDEX< funding round, including:
- • Globe Capital Market Ltd. – ₹51 Crore
- • Billionbrains Garage Ventures – ₹50 Crore
- • Acacia Banyan Partners – ₹50 Crore
- • Kotak Mahindra Life Insurance – ₹42 Crore
- • Tower Research Ventures LLC – ₹34 Crore
- • Share India Securities Ltd. – ₹28 Crore
- • Kedia Securities Pvt. Ltd. – ₹10 Crore
Other significant supporters include Rainmatter Capital (Zerodha), Citadel Securities, SMC Global, and various venture capital funds—bolstering NCDEX’s credibility among investors.
Market Veterans Place Their Bets
Prominent figures from Dalal Street have also expressed their confidence in NCDEX’s prospects:
- • Radhakishan S. Damani (DMart): ₹25 Crore
- • Ramesh S. Damani: ₹15 Crore
- • Gopikishan S. Damani: ₹9 Crore
- • Madhusudan Kela (MK Ventures): ₹15 Crore
- • Kanchan Sunil Singhania (Abakkus Family): ₹15 Crore
- • Viral Amal Parikh (Ohm Stock Broker): ₹15 Crore
The involvement of such experienced investors indicates a strong belief in NCDEX’s long-term growth trajectory.
Why This Fundraise Matters for NCDEX
- • Enhanced Capital Structure – New investments will facilitate advancements in technology, broaden product offerings, and enhance liquidity.
- • Increased Credibility – Supported by international funds, local institutions, and leading value investors in India.
- • Appealing Valuation –Shares priced at approximately ₹197 position NCDEX as a noteworthy unlisted investment opportunity.
- • Positive Market Dynamics –Fluctuations in agriculture and structured commodity trading are generating avenues for growth.
- • Diversification Advantage – Commodities serve as a safeguard against declines in equity markets and inflation.
NCDEX’s Next Big Move: Foray into Equities
NCDEX is set to venture into the equity trading sector—starting with cash equities and progressively advancing into derivatives. This strategic move will place NCDEX in direct rivalry with NSE and BSE, broadening its function within India’s financial landscape.
Conclusion
The ₹770 Cr fundraising is not merely a financial endeavor—it signifies credibility, strategic direction, and foresight. With the support of prominent figures such as Radhakishan Damani, Madhusudan Kela, Kotak Mahindra, and Zerodha’s Rainmatter Capital, NCDEX is poised to evolve from a commodity-centric platform into a comprehensive multi-asset exchange.
As it gears up for its entry into the equity market, NCDEX is positioning itself as one of India’s most promising exchanges—rendering it a captivating narrative in the realm of unlisted shares.