MCX plans Rs 200 crore investment to launch coal, minerals trading platforms

Synopsis

Multi Commodity Exchange of India plans to invest up to Rs 200 crore to launch dedicated coal and minerals trading platforms as the government seeks greater price discovery and transparency in domestic markets. MCX has incorporated separate entities for the businesses and received Sebi approval to invest about ₹100 crore in each.

Multi Commodity Exchange of India Ltd. plans to invest as much as ₹200 crore to start coal and minerals trading platforms as the government opens up the sectors to improve price discovery and transparency in the domestic market.

India's largest commodity exchange is seeking licences to start coal and minerals exchanges, Managing Director Praveena Rai said in an interview. The company has already incorporated separate units to run the two trading operations, regulatory filings showed. Sebi has approved MCX's plan to invest about ₹100 crore each in the new businesses, she said in Mumbai on Thursday.