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Kotak Mahindra sells 11pct in ACE commodity exchange

Posted on 29 November 2011

Kotak Mahindra Bank, the promoter of Ace Derivatives & Commodity Exchange Ltd., has sold an 11% stake in the exchange to private investors for about 200 million rupees, the Economic Times newspaper reported Monday.
The bank has now brought down its stake in the commodity exchange to 40% from 51% to meet regulatory guidelines, the report said, citing Narayan S.A., president commercial banking and capital markets of the bank. Narayan is also the chairman of the commodity exchange. ……………………………………….Full Article: Source


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