New Delhi: Leading commodity bourse MCX on Monday said it has sold 90,17,227 warrants worth Rs 2.25 crore in MCX-SX to IL&FS Financial Services.
MCX, which currently has 4.14 percent equity stake in MCX-SX, is selling the warrants to comply with regulations.
In a regulatory filing, MCX said it has sold as many as 90,17,227 warrants, which are convertible to equal number of equity shares of MCX-SX, to IF&FS.
The warrants were sold at Rs 2.50 per piece.
The sale is subject to "applicable provision with respect to ownership of stock exchanges under Securities Contracts (Regulations) (Stock Exchanges and Clearing Corporations) Regulations, 2012," the filing noted.
With the acquisition, the shareholding of IF&FS in the MCX Stock Exchange would increase to around five percent, sources said.
After sale of these warrants, MCX would be holding about 58 crore warrants worth Rs 116 crore in the stock exchange, they said.
The commodity bourse has to offload bulk of the warrants by June-end, they added.
