Metropolitan Stock Exchange of India raises Rs112 crore, awaits Sebi nod:

Metropolitan Stock Exchange of India (MSE) has mobilised Rs112 crore through a rights issue and is awaiting regulator Sebi’s approval for launching new products, a top company official said. The exchange, which was targeting to raise Rs207 crore from the rights issue, will allot the unsubscribed portion through board approval.

Proceeds from the issue would be used towards capitalisation of MSE’s subsidiary Metropolitan Clearing Corporation of India as per regulatory requirements. “MSE launched rights issue of Rs207 crore on 16 September which closed on 30 September . During this time, MSE was successful in raising Rs112 crore,” MSE Managing Director and CEO Udai Kumar told PTI.

“Unsubscribed portion will be placed and allotted through board approval,” he added. Noting that the bourse is adequately funded for business requirements, Kumar said that “if the exchange receives over- subscription in the process of placing the unsubscribed portion, it has the option to retain it”. He added that MSE is awaiting regulator Sebi’s approval for launching new products.

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