Fidelity invests $49 million, picks 9% stake in MCX India

Fidelity International has invested $49 million to pick a 9% stake in Multi Commodity Exchange of India Ltd, India´s leading multi commodity exchange.

MCX´s financial ratios are comparable to best exchanges like NSE and CME. MCX paid a maiden dividend in its first year of operations which in itself is a testimony to the firm´s operating efficiencies.

Interestingly Fidelity is the largest FII investor in parent company Financial Technologies too. The key shareholders of MCX includes Financial Technologies India Ltd, State Bank of India (with all 7 subsidiaries), NSE etc.

Source : Equity Bulls

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