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SNG & Partners advised the National Commodity & Derivatives Exchange (NCDEX) on its recent ₹770 crore capital raise through a preferential allotment of over 3.91 crore equity shares to a diverse group of 61 investors, including leading institutional investors such as Tower Research Capital, Citadel Securities, Kotak Mahindra Life Insurance, and prominent individuals including Radhakishan Damani.
This transaction marks a significant milestone in NCDEX’s strategic evolution from an agri-commodity exchange to a multi-asset exchange. The fundraise follows SEBI’s in-principle approval for NCDEX to enter the equity and equity derivatives segments. The proceeds will be used to strengthen the exchange’s technology infrastructure, enhance its risk management framework, ensure regulatory compliance, and support market-development initiatives ahead of its planned equity market launch in 2026.
SNG & Partners provided end-to-end legal counsel on the transaction, covering the drafting and negotiation of the share subscription agreement, advisory on foreign exchange reporting requirements, and coordination with multiple investors and regulators to achieve timely closure.
The transaction team drew on strategic guidance from Amit Aggarwal (Managing Partner – Corporate & Non-Contentious Practice) and Aditya Vikram Dua (Partner & Head – Financial Services). Execution was handled by Chandra Shekhar Mishra (Associate Partner), with support from Mohit Goyal and Yash Dogra (Associates).
NCDEX’s fundraise represents a forward-looking step toward building a unified platform that enables trading across commodities and equities, positioning it to play a key role in India’s developing capital markets environment.