MSE To Raise 200 Cr Led By Groww, Zerodha parents, others

Metropolitan Stock Exchange (MSE) plans to raise ₹238 crore from investors including Billionbrains Garage Ventures, groww's parent company, zerodha's Rainmatter Investments, Securocorp Securities India, and Share India Securities.

In a board meeting on Tuesday, MSE approved issuing 119 crore shares to these investors at ₹2 each, as part of efforts to revive the struggling exchange. Share India Securities, a listed company, will invest ₹59.5 crore by acquiring 29.75 lakh shares, representing 4.96% of the post-issue share capital. The investment will be completed within 60 working days, as disclosed by the company.

Read also- Cricketer Ajinkya Rahane Invests In Deeptech Startup Proxgy

Sachin Gupta, CEO & director of Share India Securities, said, "We see this milestone as a pivotal step toward expanding our product offerings, addressing the needs of domestic and international institutional investors especially in view of new regulatory measures. The anticipated trading volumes from these new products are expected to enhance revenue visibility and align with the market's growing emphasis on long-term strategies."

About Metropolitan Stock Exchange (MSE)

Metropolitan Stock Exchange (MSE) previously known as MCX-SX was established in 2008 by entities led by Jignesh Shah. After the NSEL scam its ownership changed hands.

MSE, recognized as a stock exchange under Section 4 of the Securities Contracts (Regulation) Act, is a national-level exchange licensed to operate in equity, equity derivatives, currency derivatives, debt, and SME platforms.

To revive the exchange, it secured investments from major banks like SBI, Bank of Baroda, PNB, Axis Bank, and HDFC Bank. Financial institutions such as Edelweiss Commodities, IL&FS Financial Services, and individual investors like the late Rakesh Jhunjhunwala and Radhakishan Damani also invested in MSE.

Advertisment

Funding News: Your Gateway to Every Funding Update.

Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.