Last Updated:
MCX says the approval was received on April 17 and it plans to incorporate a wholly owned subsidiary, likely to be named MCX Coal Exchange Ltd or MCX Coal Exchange of India Ltd.
Shares of MCX on Monday were trading higher by 0.56 per cent to trade at Rs 2,871.30 apiece on the NSE, as of 2:40 pm.
The Multi Commodity Exchange (MCX), India’s leading commodity bourse, on Monday said it has received approval from the Securities and Exchange Board of India (Sebi) to invest in a proposed coal exchange company. The company said the approval was received on April 17 and it plans to incorporate a wholly owned subsidiary, likely to be named MCX Coal Exchange Ltd or MCX Coal Exchange of India Ltd.
Rs 100 Crore Capital Commitment Planned
MCX said it will invest up to Rs 100 crore in the proposed subsidiary to meet minimum net worth requirements under the draft Coal Exchange Rules.
Initially, the bourse will hold a 100 per cent stake in the new entity, though it may induct strategic partners at a later stage.
What The Coal Exchange Will Do
The proposed coal exchange is expected to offer a transparent and standardised digital platform for the physical delivery of coal at market-linked prices.
The company said the new subsidiary will apply to the Coal Controller Organisation of India once the prescribed timelines and rules are notified.
Why It Matters For India
Coal remains a key fuel for India’s power generation and several industrial sectors. A regulated exchange platform could improve price discovery, streamline supply transactions and bring greater transparency to the coal market.
MCX Expands Energy Basket
The proposed move also strengthens MCX’s presence in the broader energy segment. The exchange already offers derivatives contracts in crude oil and natural gas, and had launched electricity futures last year.
With coal now being added, MCX is looking to build a wider presence across India’s energy commodities ecosystem.
Shares of MCX on Monday were trading higher by 0.56 per cent to trade at Rs 2,871.30 apiece on the NSE, as of 2:40 pm.
April 20, 2026, 3:41 PM IST
Read More
Source link
[ad_3]
