MSEI v/s NSE in Rs 856-crore predatory pricing case hearing on 10 October

MSEI logo showing new stock exchange
Shares of MSEI are in high demand as it is  India’s 3rd stock exchange after BSE and NSE.

The Rs 856-crore claim by Metropolitan Stock Exchange of India (MSEI) against National Stock Exchange (NSE) is scheduled for hearing by the National Company Law Appellate Tribunal (NCLAT) on 10 October 2017. MSEI had dragged NSE to the Competition Commission of India (CCI) citing monopolistic practices. The competition watchdog held NSE guilty and asked it to compensate MSEI.

For buying or selling pre IPO shares of MSEI or any other companies, please click on https://buysellunlistedshares.com/buysell/

Metropolitan Stock Exchange of India (MSEI), India’s new stock exchange, is recognised by Securities & Exchange Board of India. It is India’s third functional and recognised stock exchange after BSE and NSE. There is huge demand for shares of MSEI due to strong listing of BSE and upcoming IPO of NSE.  A clutch of financial institutions now own more than 34% of MSEI, as do investors including Rakesh Jhunjhunwala, Radhakishan Damani and Nemish Shah.

In 2008, both MSEI and NSE launched currency future contracts almost simultaneously. NSE priced the transaction charges on these contracts at zero and given NSE’s dominant position, MSEI was left with no choice but to adopt zero pricing as well.

This made a significant and material dent in the financial position of MSEI, which filed a complaint with CCI alleging predatory pricing (waiver of transaction fees, data-feed fees and admission fees) wherein CCI found NSE guilty and imposed a fine of Rs 55.5 crore. NSE filed an appeal with the Competition Appellate Tribunal (COMPAT), which too found NSE guilty. NSE then moved the Supreme Court and its appeal is still pending.

According to the process, the exchange has filed an application for award of compensation against NSE for Rs 856 crore before COMPAT, pending the appeal. Now, as COMPAT ceased to exist (from May 26), all pending matters before COMPAT stand transferred to the NCLAT.

Udai Kumar, MD & CEO of MSEI,said, “MSEI started out as a fast-growing exchange with immense potential, when it was deeply impacted by the financial burden imposed by NSE’s predatory pricing. Speedy disposal of this matter is the need of the hour. “It will encourage transparency and compliance with existing competition laws and practices across the spectrum and also dis-incentivise anti-competitive practises and misuse of dominant position.”

Source:
http://www.thehindubusinessline.com/markets/stock-markets/nclat-to-hear-856cr-predatory-pricing-case-against-nse-on-oct-10/article9874459.ece

Advertisements

Metropolitan Stock Exchange (MSEI) eyes block deals, new products launch to boost revenues

The Metropolitan Stock Exchange of India (MSEI) plans to woo brokerages to execute large stock trades on its venue. The exchange is also developing short-term debt instruments to help mutual funds and insurance companies hedge their portfolios. Products launches in currency, interest rate futures and corporate bonds are also planned.

For buying or selling shares of MSEI or any other companies, please call on 08108234400 or click on https://buysellunlistedshares.com/buysell/

Backed by billionaires Rakesh Jhunjhunwala and Radhakishan Damani, MSEI aims to wade into the block deals segment, which is worth as much as Rs 5 trillion ($78 billion). India’s regulator defines a block as a single trade having at least 500,000 shares or a minimum value of Rs 5 crore. Money managers like dealing in large sizes because it ensures transactions are done before the market can hear about them and react by raising or lowering prices.

We are telling institutional investors to come to our platform—there will be no slippages or price impact, said Kumar, who was named chief executive officer last year to turn around the bourse. The MSEI is in talks with half a dozen large investment banks to bring in such deals, he said.

The MSEI, which has been making losses, expects to return to profitability by March 2020. We can lead in areas where the BSE and NSE have limited play, Kumar said.

A clutch of financial institutions now own more than 34% of MSEI, as do investors including Jhunjhunwala, Damani and Nemish Shah.

The MSEI got 250 companies to list exclusively on its venue—most of whom migrated from the 15 regional bourses the market regulator shut down three years ago—and slashed fees and transaction costs to levels it claims are the lowest in the country.

Metropolitan Stock Exchange of India (MSEI), India’s new stock exchange, is recognised by Securities & Exchange Board of India. It is India’s third functional and recognised stock exchange after BSE and NSE. There is huge demand for shares of MSEI due to strong listing of BSE and upcoming IPO of NSE.

Metropolitan Stock Exchange (MSEI) plans IPO in two years

The exchange is looking to turn profitable in the next two years, and it plans to go public at the end of this turnaround period, said the chief operating officer Abhijit Chakraborty during an event on 12 July 2017. The exchange, formerly known as MCX-SX, currently has a net worth of around Rs 160 crore, cash liquidity of about Rs 60 crore and operating costs at just below Rs 30 crore, said Chakraborty.
For buying pre IPO shares of MSEI or any other companies, please click on https://buysellunlistedshares.com/buysell/

MSEI plans to launch two new derivative products in the currency segment, one new interest rate futures (IRF) product and two new equity indices linked to derivative contracts by next year. India’s third national-level stock exchange has been operational since 31 December 2012. More than 1,500 stocks are traded on the MSEI currently.

MSEI, India’s new stock exchange, is recognised by Securities & Exchange Board of India. It is India’s third functional and recognised stock exchange after BSE and NSE. There is huge demand for shares of MSEI due to strong listing of BSE and upcoming IPO of NSE.  A clutch of financial institutions now own more than 34% of MSEI, as do investors including Rakesh Jhunjhunwala, Radhakishan Damani and Nemish Shah.

Source: https://www.bloombergquint.com/markets/2017/07/11/metropolitan-stock-exchange-msei-eyes-profitability-ipo-in-next-two-years

CDSL gets Sebi approval for IPO

CDSL is unit of BSE
Sebi clears CDSL IPO

Leading securities depository Central Depository Services (CDSL) has received clearance from the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). Its public issue comprises an offer for sale by shareholders including BSE, State Bank of India, Bank of Baroda and Calcutta Stock Exchange.

For buying or selling shares of all unlisted/delisted companies, please click on buysellunlistedshares.com/buysell/

Going by the draft papers, little over 3.5 crore shares would be offloaded by CDSL through the offer for sale (OFS) route and out of the total, 7 lakh shares would be reserved for the employees. Four shareholders — BSE, SBI, Bank of Baroda and the Calcutta Stock Exchange — would be selling stakes in CDSL through the initial share sale. The IPO is estimated to be worth Rs 450 crore ($67 million), valuing CDSL around Rs 1500 crore.

CDSL, is promoted by BSE Ltd. BSE, which holds 50.05% stake in CDSL, got listed on the stock exchange earlier this month. The IPO got approval from Sebi on 8 February. It had filed its draft red herring prospectus with Sebi on 28 December.

CDSL facilitates deposits of securities by opening an account. Securities such as shares, debentures and bonds of investors are held in electronic form (dematerialized form) at the depositories.

Friday big bang blockbuster debut for BSE

BSE lists with a bang
BSE sees stellar debut

Shares of Asia’s oldest bourse, BSE saw stellar debut on Friday, 3 February 2017. The stock settled at Rs 1,070.55 on the NSE, a premium of 32.82% compared with initial public offer price of Rs 806.

Shares of BSE made its debut at Rs 1,085 on NSE. The stock had hit a high of Rs 1,200 and a low of Rs 1,065.10 in intraday trade. The initial public offer (IPO) of BSE had received strong response from investors. The IPO was oversubscribed 51.22 times.

The stock has already delivered multibagger returns as it was alerted to investors near Rs 300 levels (face value Rs 2) when it was unlisted about two years back.  For investors who want to get such stock messages, please click https://buysellunlistedshares.com/unlisted-sharesupdates/

The recent market buoyancy has triggered an IPO boom. Companies with good fundamentals are seeing huge oversubscription leaving investors with nil or low allotment. This is very annoying as there is a loss of opportunity to make profit in form of listing gains.

Also investors would be disappointed by nil or low allotment as IPOs are an entry point for many new investors who begin their stock market journey.

To address this situation, investing in stocks at a pre-IPO stage makes sense. The biggest benefit is getting the assured desired quantity. Also there is price benefit. This wealth creating tool was earlier available only to institutions, private equity investors and high networth investors.

But now, retail investors can also take benefit of such multibagger returns from investing in unlisted shares. Many fundamentally good companies will be floating their IPOs soon. For more details and buying pre-IPO shares of all companies about to bring out IPO soon, please call on 08108234400 or place your trade details buysellunlistedshares.com/buysell/