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| MCX Tips |
MUMBAI:
PE major Blackstone on Friday exited its investment in MCX by selling
nearly 4.8% stake to Swiss Finance Corporation for Rs 300 crore.
Blackstone, through its Mauritius subsidiary, http://www.epicresearch.co/commodity-tips/mcxBlackstone GPV Capital Partners, held 4.79% stake in the commodity exchange as on September 30, 2016.
The shares of MCX jumped 8.7% to an intraday high of Rs 1,413.40 on BSE, shy of its 52-week high hit on October 3, after news of Blackstone's sale.
Blackstone, through its Mauritius subsidiary, http://www.epicresearch.co/commodity-tips/mcxBlackstone GPV Capital Partners, held 4.79% stake in the commodity exchange as on September 30, 2016.
The shares of MCX jumped 8.7% to an intraday high of Rs 1,413.40 on BSE, shy of its 52-week high hit on October 3, after news of Blackstone's sale.
The
share closed up 2.56% at Rs 1,328.65 on Friday.
Blackstone has initially purchased 2% of MCX's equity capital in 2013 from Merrill Lynch for . 104 crore and another 2.79% from it for Rs 81.5 crore almost a year later. The country's largest commodity exchange and its only listed one reported a net profit of Rs 37.65 crore on revenue of Rs 65 crore in the September quarter.
Blackstone has initially purchased 2% of MCX's equity capital in 2013 from Merrill Lynch for . 104 crore and another 2.79% from it for Rs 81.5 crore almost a year later. The country's largest commodity exchange and its only listed one reported a net profit of Rs 37.65 crore on revenue of Rs 65 crore in the September quarter.
It
commands over 80% share in the commodity futures segment leading its
rival agri bourse NCDEX by a wide margin.
MUMBAI:
PE major Blackstone on Friday exited its investment in MCX by selling
nearly 4.8% stake to Swiss Finance Corporation for Rs 300 crore.
Blackstone, through its Mauritius subsidiary, Blackstone GPV Capital Partners, held 4.79% stake in the commodity exchange as on September 30, 2016.
The shares of MCX jumped 8.7% to an intraday high of Rs 1,413.40 on BSE, shy of its 52-week high hit on October 3, after news of Blackstone's sale.
Blackstone, through its Mauritius subsidiary, Blackstone GPV Capital Partners, held 4.79% stake in the commodity exchange as on September 30, 2016.
The shares of MCX jumped 8.7% to an intraday high of Rs 1,413.40 on BSE, shy of its 52-week high hit on October 3, after news of Blackstone's sale.
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