NMCE, Indian Commodity Exchange to merge in 1st comex merger

  • National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX), where Reliance Capital is the largest investor, in an all-stock deal to create the country's third-largest commodities bourse.
  • This is the 1st merger deal in the commodity exchange space and the merged entity will offer the world's first diamond futures contract along with a wide range of contracts, including bullion, oil, rubber and other agri-commodities.
  • Reliance Capital is the largest investor in ICEX and will continue to be the largest shareholder post merger, along with others.
  • As per the agreed swap ratio, ICEX shareholders will hold 62.8 per cent stake and NMCE's will hold 37.2 per cent in ICEX, post merger.
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