The Metropolitan Stock Exchange of India (MSE) is taking steps to raise ₹120 crore from investors in an effort to sustain its operations. The exchange has been struggling financially and aims to secure its future by issuing new shares. The MSE board has approved the issuance of 1.19 billion equity shares with a face value of ₹1, along with a premium of ₹1. The shares will be issued through private placements, as disclosed on the exchange’s website.
The allottees for these shares include prominent investors and institutions such as:
These allottees are subject to the approval of existing shareholders during the upcoming extraordinary general meeting.
On December 24, 2024, Share India Securities Limited announced its decision to invest Rs 59.50 crore in MSE. This will be done by acquiring 29.75 crore equity shares, amounting to 4.958% of MSE’s post-issue paid-up share capital. The investment is expected to be completed within 60 working days.
Commenting on the milestone performance, Mr Sachin Gupta – CEO & Whole-time Director of Share India Securities Limited said,
“We are excited to announce our strategic investment of approximately ₹60 crore in the Metropolitan Stock Exchange of India (MSE), marking a pivotal milestone in our journey to support and shape the future of Indian financial markets. This investment not only extends our market reach but also solidifies our leadership position within the industry. It underscores our commitment to shaping the future of the financial ecosystem through innovative solutions and strategic partnerships.”
He added, “We strongly believe that this move significantly enhances our market presence, reinforcing our position as a key driver of growth and innovation in the industry. We see this milestone as a pivotal step toward expanding our product offerings, and addressing the needs of domestic and international institutional investors, especially in view of new regulatory measures. The anticipated trading volumes from these new products are expected to enhance revenue visibility and align with the market’s growing emphasis on long-term strategies.”
He further stated, “Our commitment to introducing cutting-edge financial products is at the heart of this strategic move. By leveraging MSE’s platform, we aim to create new opportunities and accelerate the evolution of India’s market ecosystem.”
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/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 market are subject to market risks, read all the related documents carefully before investing.
Published on: Dec 26, 2024, 9:26 AM IST
We're Live on WhatsApp! Join our channel for market insights & updates