| Home
National Multi Commodity Exchange to raise Rs.1 bn
Calcutta News.Net
Wednesday 8th October, 2008 (IANS)
The National Multi Commodity Exchange of India (NMCE) is planning to raise Rs.1 billion ($22 million) through issue of fresh shares to its present stakeholders, including Reliance Money, which acquired 10 percent stake in the bourse last week.
'We are undergoing a major restructuring of the exchange. We are redesigning our existing products and launching new products like spot exchanges and currency futures,' NMCE managing director Kailash Gupta told IANS, while unveiling the new corporate identity for the exchange.
The Ahmedabad-based exchange will relocate its base to Mumbai and spread out to over 50 locations all over India.
Reliance Money director and chief executive and NMCE director Sunil Bandyopadhyay said: 'We want to expand our membership network and want to reach out to huge investor base through various tie-ups.'
He, however, refused to divulge details regarding the same, but said the money raised would be used to fund expansion plans.
NMCE is the oldest and smallest of India's three national-level commodity derivatives exchange. The others are Multi Commodity Exchange of India and National Commodity and Derivatives Exchange of India.
 Email this story to a friend
Have your say on this story
|
 |
 |
- CPI-M Politburo to discuss Vijayan-Acuthanandan spat
New Delhi, July 4 : The politburo of the Communist Party of India (Marxist) is meeting here later today to resolve the crisis of the party's Kerala unit. [read story]
- Central forces' deployment in Kandhamal extended
Bhubaneswar, July 4 (IANS) Conceding Orissa Chief Minister Naveen Patnaik's demand, the central government has extended the deployment of its paramilitary forces for two more weeks in the state's Kandhamal district, which witnessed communal riots last year, an official said here Saturday. [read story]
- India meets Egypt musically in Rahul Sharma's new album
New Delhi, July 4 (IANS) His father is a music legend and he too has carved a niche for himself as a Santoor player. Rahul Sharma, son of Santoor maestro Pandit Shiv Kumar Sharma, is now all set to entertain music buffs with his new album 'A Meeting By The Nile', a fusion of Indian and Egyptian music. [read story]
- I was to do Akshaye's role in 'Short Kut': Anil Kapoor
Mumbai, July 4 (IANS) If the original cast of 'Short Kut - The Con Is On' would have remained intact, audiences would have seen Anil Kapoor playing the role that Akshaye Khanna now essays. Also, Arshad was a late entry into the project as he finally got the part written for Akshaye. [read story]
- Liberhan report will hurt Advani the most
The M.S. Liberhan report on the Babri Masjid demolition could not have come at a worse time for the Bharatiya Janata Party (BJP). [read story]
|
|
 |
 |
|
|
