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NCDEX Raises ₹770 Crore Through Preferential Allotment to Drive Expansion and Market Diversification
NCDEX Raises ₹770 Crore Through Preferential Allotment to Drive Expansion and Market Diversification
National Commodity & Derivatives Exchange (NCDEX) raised ₹770 crore through a preferential allotment.
Investors: 61 investors participated, including
- Institutional investors: Tower Research Capital, Citadel Securities, Kotak Mahindra Life Insurance
- Prominent individuals: Radhakishan Damani and others
Shares Issued: Over 3.91 crore shares were allotted.
Legal Advisor: SNG & Partners acted as legal counsel to NCDEX.
Role of SNG & Partners:
- Drafted the share subscription agreement
- Advised on regulatory and foreign exchange compliance
- Coordinated with multiple investors and regulators for timely closure
Purpose of Fundraise:
- Strengthen technology infrastructure
- Improve risk management and compliance
- Support market development and future expansion
Strategic Move:
- Helps NCDEX transition from an agri-commodity exchange to a multi-asset platform
- Prepares for launch of equity and equity-derivatives trading by 2026
Source: https://www.barandbench.com/dealstreet/tempus-law-acts-on-acquisition-of-centillion-networks-by-osmose
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