Metropolitan Stock Exchange of India Ltd (MSE) is planning to raise up to ₹1,000 стоге from private equity fund Peak XV Venture Partners Investments VII, stockbroker Jainam Broking Ltd, and 28 other brokers, family offices, and venture capital funds.
The plan is part of the exchange’s revival efforts to catch up with peers.
The board on 8 July approved an increase in the authorized capital and the issuance of up to 5,000 million equity shares with a face value of ₹1 per share, each at a premium of ₹1 (a total price of ₹2 per equity share including premium), showed a release on 9 July.
This translates into ₹1,000 crore to the proposed allottees, including Monarch Networth Capital Ltd, Straits Holdings Pvt. Ltd, Securocrop Securities India Pvt. Ltd, Share India Securities Ltd, Trust Investment Advisors Pvt. Ltd, Findoc Investmart Pvt. Ltd, Mansi Share & Stock Advisors Pvt. Ltd, Pharma Ventures International LLP, and others.
However, this is subject to approval from the members of the company during an extraordinary general meeting.
MSE had raised ₹238 crore from broking firm Groww’s parent Billionbrains Garage Ventures, Zerodha’s Rainmatter Investments, Share India Securities, and Securocorp Securities India in December 2024.
Sebi spanner
Latika Kundu, MSE’s managing director and chief executive, told Mint earlier that the exchange had started upgrading the technology of its network, infrastructure, and systems to ensure seamless connectivity and a better trading experience for members.
The bourse planned to offer a derivative contract for its flagship SX40 index. All National Stock Exchange of India Ltd’s derivatives expire on Thursday, BSE Ltd’s on Tuesday, and the MSE has targeted Friday expiry for its SX40 contracts.
But on 26 May, a Securities and Exchange Board of India (Sebi) circular curtailed expiries for hugely popular index options to Tuesday and Thursday every week.
On 3 June, Mint reported that broking firms and their founders who backed the exchange in December 2024 were uncertain about the fate of their investments after the Sebi circular.
However, they had no immediate plan to divest their stakes.
Established in 2008 by Jignesh Shah and associated entities, it was previously known as MCX-SX. Shah was allegedly involved in the National Spot Exchange Ltd fraud, which came to light in 2013. He denied wrongdoing.
