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Fidelity picks up 9% stake in MCX

Fidelity Intrnational has acquired 9 per cent stake in Multi Commodity Exchange of India Ltd (MCX).

india Updated: Feb 06, 2006 11:40 IST

Foreign Institutional Investor, Fidelity International has acquired 9 per cent stake in Multi Commodity Exchange of India Ltd (MCX).

Financial Technologies (India) Ltd on Monday informed the Bombay Stock Exchange about the acquisition of nine per cent stake in its subsidiary, MCX, by Fidelity International.

"This investment by Fidelity International in MCX proves that strategic ventures of the company such as MCX, DGCX, NSEAP have huge value appeal for knowledgeable investors. It also clearly demonstrates the success of the most innovative and unique business model of 'FT - THE FACTORY' that has incubated numerous such highly rewarding domain ventures which are beyond conventional sum of parts, logic", MCX Managing Director and CEO Jignesh Shah said.

This substantial investment by Fidelity is a proof of confidence and credibility of MCX and regulatory framework in India, he added.

First Published: Feb 06, 2006 11:40 IST