MSEI Exchange to raise ₹1,000 crore as part of revival plan, eyes broader market presence

The Metropolitan Stock Exchange of India Limited (MSE), formerly known as MCX-SX (MCX Stock Exchange), has unveiled plans to raise ₹1,000 crore as part of its ongoing revival strategy.

This fresh capital infusion will come from a mix of institutional investors, including venture funds, brokers, and Alternative Investment Funds (AIFs).

The fundraise is intended to strengthen MSE’s financial position, upgrade its technology systems, and help the exchange compete more effectively with established players like NSE and BSE.

As part of this plan, MSE will issue up to 5,000 million equity shares with a face value of ₹1 each, priced at ₹2 per share (including a ₹1 premium).

Latika S Kundu, Managing Director and CEO of MSE, said the exchange is focused on building a sustainable and inclusive platform. “We are looking at a mix where we will have institutional and retail investors – the goal is not just to create another exchange but to contribute to long-term wealth creation in the country,” she stated.

As part of its broader strategy, MSE is also planning to strengthen its presence in the derivatives segment by leveraging its proprietary benchmark index, SX40, which sits between the Sensex and Nifty. “We see this as a strong and unique benchmark index with potential for options trading,” Kundu said.

She also highlighted MSE’s unique position in the market, noting that the exchange currently hosts over 200 companies that are not listed on other Indian exchanges.

“While the larger companies listed with NSE and BSE are in the ‘permitted to trade’ category on MSE, this is a standard industry practice. NSE also began the same way 30 years ago. As we build liquidity, we expect more of these companies to eventually list with us.”

The exchange is also keen on attracting new companies to list and launch IPOs through its platform. “We’re seeing growing interest. We have over 560 registered members and are operating with a restart-up mindset,” she added, pointing to MSE’s determination to overcome past challenges and emerge as a competitive and credible alternative in India’s capital market ecosystem.

The exchange is working towards a three-year target to become financially sustainable and improve market liquidity, aiming to capture a 10–12% share in the cash segment.

Additionally, MSE remains open to having NSE listed on its platform if the latter decides to take that step.

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