New Delhi: Commodity bourse MCX on Monday said it has sold 2.2 crore warrants worth over Rs 5 crore in MCX-SX to IL&FS Financial Services.
With the acquisition, the shareholding of IL&FS in MCX Stock Exchange would increase from nearly three per cent at the end of December 2014.
As many as 2.15 crore warrants, which are convertible to equal number of equity shares of MCX-SX, were sold by MCX, according to a regulatory filing.
The warrants were sold at a price of Rs 2.50 apiece.
The sale is subject to "applicable provision with respect to ownership of stock exchanges under Securities Contracts (Regulations) (Stock Exchanges and Clearing Corporations) Regulations, 2012", the filing noted.
After sale of these warrants, MCX would be holding about 59 crore warrants in the stock exchange, sources said.
The commodity bourse has to offload bulk of the warrants by June end, they added.
MCX, which currently has little over 4 per cent equity stake in MCX-SX, is selling the warrants to comply with regulations.
Under existing norms, MCX cannot have more than 5 per cent in the exchange.
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