Commodity bourse mulls rights issue

 
“We have to increase our equity capital by Rs.20 crore to Rs.50 crore and the net worth by Rs.30 crore to Rs.100 crore by September 2010,” NCDEX Managing Director & Chief Executive R Ramaseshan, told IANS. “The deadline is extendable by a year. We are mulling options like a rights issue for the purpose,” he said.

The central government has stipulated the minimum equity capital and the net worth for commodity exchanges at Rs 50 crore and Rs 100 crore respectively. “As the issue will be at a premium, the net worth will automatically increase along with the equity base,” Ramaseshan said.  Currently, the equity of NCDEX is held by 10 companies.  

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