Kotak To Sell Commod Bourse Stake

Kotak Mahindra Bankis seeking to sell an 11% stake in theAce Derivatives & Commodity Exchange(ACE),Economic Timesreports. Kotak has to reduce its holding to 40% from 51% by October 26 to act in accordance with government rules on shareholding in a commodity exchange.

股份必须在th进一步降至26%e next four years, as per the rules. The bank is in discussions with both foreign and domestic investors, who have showed interest in buying a stake in ACE that offers futures trading in soyabean, soyaoil, mustardseed and gram through over 320 registered member brokers.

Click here for the story fromEconomic Times.