FIIs to lower their NCDEX holdings to 5%

This follows the finance ministry guideline that an FII cannot hold more than 5 per cent in a commodity exchange.

NCDEX chairman R Ramaseshan said Goldman Sachs and Intercontinental Exchange have to bring down each of their holdings to 5 per cent or below from 7 per cent and 8 per cent, respectively, in the bourse.

“We have informed both the investors and they will have to decide over the exit price,” Ramaseshan said. Although NCDEX is not yet decided over an IPO, in case of the FIIs offloading the shares, the company may come up with an IPO before June next year.