Financial Wire

Multi Commodity Exchange of India Gets SEBI Nod to Invest in Coal Exchange Venture

-- MULTI COMMODITY EXCHANGE OF INDIA (BOM:534091) said it has received approval from the Securities and Exchange Board of India (SEBI) to invest in a proposed coal exchange company, according to a Monday filing on BSE.

The company plans to incorporate a wholly owned subsidiary for the venture with an initial investment of up to 1 billion Indian rupees, the filing said. The proposed entity will develop a platform for coal trading and price discovery, it added.

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