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MCX Stake Sale to Merill lynch + Citigroup

September 28, 2007

Merrill Lynch and Citigroup have acquired 5% stake each in Multi Commodity Exchange of India (MCX) from Financial Technologies (India). Company plans to invest proceeds in green field ecosystem ventures such as – India Energy Exchange, National Spot Exchange (NSEL), National Bulk Handling Corporation (NBHC) and others towards the development of complete value chain.

The company, as a part of its strategy, divests its stake in its ventures to key partners that can help propel the growth of its ventures to the next level. It plans to invest the proceeds from the same in organic and other growth opportunities including green field exchanges and ecosystem infrastructure ventures such as NSEL and NBHC among others, in local and global markets.

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