MCX shares gain nearly 4% as Blackstone ups stake

Tags: News
Shares of Multi Commodity Exchange of India Ltd today rose by nearly 4 per cent after Blackstone bought 2.79 per cent stake in the company.

MCX's scrip ended the day with a gain of 3.66 per cent at Rs 592.35. During the day, the stock surged 6.65 per cent to Rs 609.50.

At the NSE, the scrip settled at Rs 591, up 3.49 per cent from its previous close.

Blackstone yesterday bought 2.79 per cent stake in MCX for around Rs 81 crore, after the Forward Markets Commission gave the private equity giant its nod to hike holding in the commodity bourse to 4.99 per cent.

As per stock exchanges data, foreign fund house Merrill Lynch sold its entire 14,22,245 shares, amounting to 2.79 per cent stake, of MCX to Blackstone GPV Capital Partners Mauritius VI FII Ltd.

The shares were offloaded on an average price of Rs 573 valuing the transaction at Rs 81.49 crore.

As of September quarter, Blackstone held 10.19 lakh shares, equivalent to two per cent stake, in MCX.

On December 18, the Forward Markets Commission (FMC) accorded its approval to Blackstone GPV Capital Partners (Mauritius) VI FII Ltd to increase its stake in the company up to 4.99 per cent through secondary market transactions.

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