MSE To Raise Rs 238 Cr; Secures Backing From Prominent Investors

New Delhi: The Metropolitan Stock Exchange of India (MSE) is set to raise Rs 238 crore from four entities including Billionbrains Garage Ventures, Groww’s parent, and Zerodha’s Rainmatter Investments in a bid to stay afloat.

Others who invested in MSEI are -- BSE-listed Share India Securities, and Securocorp Securities India. The exchange’s board in its meeting on Tuesday approved the issuance of 1.19 billion equity shares at Rs 2 per share, comprising Rs 1 face value and Rs 1 premium to these four investors through a private placement, according to a disclosure on MSEI’s website.

The proposed allotment is subject to shareholder approval at the upcoming extraordinary general meeting (EGM). Among the participating investors, Share India Securities has committed Rs 59.5 crore for a 4.958 per cent stake in MSE. In its regulatory filing, Share India Securities emphasised that this was a “strategic decision” aligned with its goal of strengthening its presence in the financial services and securities market ecosystem.