MMTC sells 10% stake in commodity bourse ICEX for Rs 20 crore

State-owned trading firm MMTC today said it has sold 10 percent stake in commodity bourse Indian Commodity Exchange (ICEX) for Rs 20 crore. Post this transaction, the company's stake in ICEX, which is part of Anil Ambani-led Reliance Group, has come down to 16 percent. Bharti Airtel group veteran Akhil Gupta and another Delhi-based investor, Vijay Sharma of BN Enterprises, have bought five percent each in ICEX in personal capacity from MMTC.

"With reference to the earlier communication dated September 21, 2015, MMTC has now informed BSE that pursuant to approval of the Board/Government, MMTC has divested its 10 per cent equity stake in its JV company i.e. ICEX... "...

amounting to Rs 10 crore face value at a sum of Rs 20 crore to the two bidders who participated in the global tender process floated by the company earlier," MMTC said in a BSE filing. The necessary transfer of shares to the bidders took place on January 19, 2016, it added.