MSEI board has approved the issuance of 119 crore equity shares through private placement at Rs 2 apiece
Metropolitan Stock Exchange of India (MSEI), has approved the issuance of equity shares worth Rs 238 crore through a private placement. The fund raising will see participation of marquee names including Billionbrains Garage Ventures, which is the promoter entity of Groww; Rainmatter Investments of Kamath brothers of Zerodha; Securicorp Securities India, and Share India Securities.
The board of the exchange approved the fund-raising at its board meeting held on December 24.
“The Board of Directors of the Company at its adjourned meeting held on Tuesday, December 24, 2024, inter-alia considered and approved the Issuance of up to 119,00,00,000 (One Hundred Nineteen Crores only) Equity shares of face value of Rs. 1 (Rupee One only) each at premium of Rs. 1 each (“Equity Shares”) to the proposed allottees (Billionbrains Garage Ventures Private Limited, Rainmatter Investments, Securocorp Securities India Private Limited and Share India Securities Private Limited) through Private Placement, subject to necessary consents and the approval of members of the Company at ensuing Extra Ordinary General Meeting,” stated a statement issued by the exchange.
This assumes significance as MSEI does not typically see much trading activity in most of its segments – it is present in all the leading arenas including equities, equity derivatives, currency derivatives and interest rate derivatives as well.
