Private EquityScreenerRefer

MARKET INSIGHTS

  • EventsNEWPrivate market milestones
  • NewsPrecize daily pulse
  • BlogsIn-depth articles and opinions

GUIDES

Explore Now
  • Unlisted SharesStep-by-step · KYC
  • BuyingStep-by-step · KYC
  • SellingExit in 24 - 48 hours
  • Pre-IPOReturns · risks · case studies
  • Tax GuideBudget 2026 changes
  1. Home
  2. Unlisted share news
  3. Sebi withdraws recognition to Indian Commodity Exchange, paves way for …

Sebi withdraws recognition to Indian Commodity Exchange, paves way for ICEX to exit as an exchange

2 Jan 2025

Add as preferred source
Key Takeaways

ICEX exits as a stock exchange after failing to meet capital requirements, shareholding norms, and compliance conditions, despite appeal.


ICEX exits as a stock exchange after failing to meet capital requirements, shareholding norms, and compliance conditions, despite appeal.


ICEX Unlisted Shares

Fusion Techstack (ICEX)

30.43%

Expert Analysis

Sebi Revokes Recognition of ICEX, Facilitating Exit as a Stock Exchange.

Expert Analysis:

  • Sebi Withdraws Recognition: Sebi withdrew recognition granted to ICEX, allowing its exit as a stock exchange.

  • Revocation Due to Non-Compliance: In 2022, Sebi revoked ICEX's recognition for "non-compliance with the minimum net worth requirement."

  • Challenges in Fundraising: ICEX attempted to raise funds but faced restrictions due to shareholding norms (maximum 5% ownership), making it unattractive to investors.

  • Appeal to SAT: In 2022, ICEX appealed to the Securities Appellate Tribunal (SAT), which set aside Sebi's order, subject to ICEX raising requisite funds and meeting compliance conditions.

Publisher:money control