NCDEX Equity Launch Draws Investments from Radhakishan Damani, Madhusudhan Kela and Others

In a strategic move marking its diversification, NCDEX has raised ₹770 crore from marquee investors to enter the equities segment by 2026, as per news reports. With SEBI’s recent in-principle approval, the agri-commodity exchange is laying the groundwork to compete directly with NSE and BSE.

NCDEX Raises ₹770 Crore to Venture into Equities by 2026

National Commodity and Derivatives Exchange (NCDEX) has successfully mobilised ₹770 crore from high-profile investors and brokerage platforms following the Securities and Exchange Board of India’s approval in July 2025. The move supports NCDEX’s foray into the equity cash and derivatives segments, aligning it with India's top stock exchanges.

Key Investors and Their Contributions

Leading the investments, Groww secured a 2.82% stake worth approximately ₹50 crore in NCDEX, followed by Zerodha acquiring a 0.96% stake for ₹17 crore. Noted investor Radhakishan Damani invested ₹20.26 crore for a 1.41% stake. Other prominent investors such as Ramesh Damani, Madhusudhan Kela and Sunil Singhania each picked up 0.85% with individual investments of ₹15 crore.

Read More: BSE Subsidiaries to Merge with BSE Technologies Following Board Approval!

Participation from Global and Institutional Players

Citadel Securities, led by Kenneth Griffin, also invested ₹17 crore, while US-based Tower Research added ₹34 crore. India-based firms like Kotak Mahindra Life Insurance, JM Financial and Acacia Partners further strengthened the funding round, reinforcing faith in the platform’s future prospects in equity markets.

Strategic Vision and Infrastructure Preparations

NCDEX plans to begin operations with the equity cash segment before venturing into derivatives. The exchange is leveraging its existing agri-commodity network in rural markets for deeper penetration. Technology and infrastructure development for equity operations is already underway, with a focus on catering to both retail and institutional participants.

Conclusion

NCDEX’s ₹770 crore fundraising signals a transformative shift as it prepares to enter the equity landscape. With backing from renowned investors and new-age brokers, the initiative is poised to reshape competitive dynamics in India’s financial markets when it launches equities by 2026.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities are subject to market risks. Read all related documents carefully before investing.