Kotak, Tata Capital, Reliance Capital, CME shortlisted bidders for MCX stake: Sources

Sources with direct knowledge share that Jignesh Shah’s Financial Technologies has shortlisted four bidders for buying its 24% stake in MCX. Kotak, Tata Capital, Relaince Capital and Chicago Mercantile Exchange are the winners of the first round of bids, a source shared. Bidders will now conduct due diligence and submit the binding bids by April 25.

Time is running out for Jignesh Shah’s FTIL which will have to finalise the buyer for MCX stake by April 30 to meet the FMC norms. Sources suggest that CME is in touch with a group of marquee private equity players to partner in the deal.

When contacted, FTIL spokesperson said, “We would not like to comment on market speculation.” Kotak Mahindra Group said, “No comment.” Rest of the companies did not respond to an e-mail sent by ET Now.