Blackstone ups stake in MCX, buys shares worth Rs 81 cr

Written By Unknown on Selasa, 07 Januari 2014 | 08.11

Blackstone today bought 2.79 percent  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 percent .

According to information available with the stock exchanges, foreign fund house Merrill Lynch sold its entire 14,22,245 shares, amounting to 2.79 percent  stake, of MCX to Blackstone GPV Capital Partners Mauritius VI FII Ltd.

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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 percent  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 percent  through secondary market transactions.

Increasing its stake to 4.99 percent  would make Blackstone the largest non-promoter shareholder in MCX, ahead of Aginyx Enterprises Ltd and IFCI Ltd, which each held 4.79 percent  in the bourse.

Earlier in March, Merrill Lynch had sold 1.99 percent  stake of MCX, to Blackstone, for an estimated Rs 104 crore. MCX shares today closed at Rs 571.45 a piece on the BSE, down 0.21 percent  from the previous close.



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