NCDEX’s Equity Segment Launch 2026 Gains Major Momentum with Rs 770 Crore Fundraise from Iconic Investors
The National Commodity and Derivatives Exchange (NCDEX) has announced a significant step toward its expansion plans, securing a Rs 770 crore fundraise from top-tier investors including Radhakishan Damani, a billionaire trader-turned-investor, alongside industry veterans Ramesh Damani, Madhusudhan Kela, Sunil Singhania, and leading brokers Zerodha and Groww. This strategic funding positions NCDEX to challenge dominant stock exchanges like BSE and NSE as it prepares to launch its equity trading segment in 2026.
In July 2026, NCDEX received an in-principle nod from Sebi to operate equity and equity derivatives trading. The funding, spearheaded by institutional investors and high-net-worth individuals (HNIs), will accelerate the development of its equity platform. The bourse aims to leverage its existing strength in agri-commodity markets to attract traders in smaller towns, focusing first on the cash market segment.
Key Stake Acquisitions by Prominent Brokers and Investors
Zerodha and Groww emerged as key participants in the fundraising. India’s largest online stock broker, Groww, acquired a 2.82% stake in NCDEX for Rs 50 crore, while Zerodha invested Rs 17 crore for a 0.96% stake. This signals strong industry confidence in NCDEX’s strategy.
HNIs further bolstered the fundraiser, with Radhakishan Damani investing Rs 20.26 crore for a 1.41% stake. Ramesh Damani, Sunil Singhania, and Madhusudhan Kela each contributed Rs 15 crore, securing a 0.85% stake apiece. Citadel Securities, founded by Kenneth Griffin, and Tower Research, a US-based high-frequency trading (HFT) firm, added Rs 17 crore and Rs 34 crore respectively, strengthening NCDEX’s financial foundation.
Sebi Directives and Equity Market Expansion
NCDEX’s shares were priced at Rs 197.34 per unit in the preferential issue. Meanwhile, the bourse’s presence in the unlisted equity market surged by 25% in a month, with shares trading at Rs 415 on Unlisted Zone, reflecting investor optimism about its Sebi-approved plans. The Sebi directive that “The technology and infrastructure development required” for equity segment work is already on track, highlights the exchange’s preparedness to meet regulatory and operational benchmarks.
With Sebi mandating a cash segment launch before derivatives, NCDEX is strategically positioning itself against the Metropolitan Stock Exchange (MSE), another challenger with similar product ambitions. NCDEX’s deep rural penetration, driven by its agri-commodity expertise, offers a unique edge as it enters the equity trading space, targeting traders and HFT participants who “have skin in the game,” per internal sources.
RELATED: NCDEX’s Equity and Derivatives Sebi Approval Path | Investors such as Kotak Mahindra Life Insurance, JM Financial, and Acacia Partners joined the fundraiser, underscoring NCDEX’s growing appeal in India’s financial ecosystem.
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Summary
- Funding Amount: Rs 770 crore
- Key Investors: Radhakishan Damani, Groww (2.82%), Zerodha (0.96%), Citadel Securities, Tower Research
- Equity Launch Year: 2026
- Sebi Approval: In-principle nod for cash market first
- Target Markets: Small-town equity traders, HFT participants