According to a draft prospectus available with market regulator SEBI (Securities and Exchange Board of India), an IPO has been floated by National Commodity and Derivatives Exchange Limited (NCDEX).
With this IPO, the shares are proposed to be listed on the BSE and NSE. A tentative date of the IPO is yet to be officially announced.
The draft red herring prospectus says that the Initial Public Offering (IPO) will comprise of a fresh issue aggregating up to Rs 100 crores and an offer for sale of up to 1,44,53,774 shares. The issue size is pegged at Rs 500 crores and sellers include Build India Capital Advisors LLP, Canara Bank, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Investcorp Private Equity Fund I (formerly known as IDFC Private Equity Fund III), Jaypee Capital Services Limited, National Bank for Agriculture and Rural Development, Oman India Joint Investment Fund and Punjab National Bank.
The exchange proposes to utilise the net proceeds towards contribution to the core settlement guarantee fund (Core SGF) and towards net worth requirements of National Commodity Clearing Limited (NCCL) and general corporate purposes, as per the document.
ICICI Securities and SBI Capital Markets are the book running lead managers.
National Commodity and Derivatives Exchange is an agricultural commodity exchange offering services across post-harvest agricultural commodities value chain. The exchange enjoys a wide network of stakeholders and market participants.
Besides trade of agri-commodities, NCDEX also engages in research, training and building awareness in agricultural commodities market through NCDEX Institute of Commodity Markets and Research.
Currently, marquee investors in NCDEX includes National Stock Exchange of India, Life Insurance Corporation of India, National Bank for Agriculture and Rural Development, Indian Farmers Fertiliser Co-operative, Oman India Joint Investment Fund, Punjab National Bank, Canara Bank, Build India Capital Advisors LLP, and Investcorp Private Equity Fund I (formerly known as IDFC Private Equity Fund III).