The rights issue is around Rs 500 crore. Most experts believe there won‘t be any problem with the rights issue. However, sources say some investors are reluctant to participate in the rights issue. But the exchange hopes to garner around Rs 200-300 crore.
In a release, MCX-SX announced that former LIC chief Thomas Matthew would take over as chairman from Pillai.
The board of MCX-SX would decide whether it would allow Financial Technologies to subscribe to its rights issue, MCX Vice Chairman Thomas Matthew said. MCX-SX, India‘s third national stock exchange run by MCX, is looking to raise Rs 500-600 crore via the rights issue.
Ex-joint secretary of capital markets, Thomas Matthew has made a strong pitch for a cut in securities transaction tax (STT) to bring in higher FII limits.