Unlisted stock broker in india

Blog

Indian Commodity Exchange Limited (ICEX)

Company Profile

Indian Commodity Exchange Limited (ICEX), incorporated on August 18, 2008 (CIN: U67120GJ2008PLC099142), operates as a SEBI-regulated online commodity derivatives exchange headquartered in Mumbai. As India’s pioneering platform for innovative futures contracts, ICEX facilitates nationwide trading through appointed brokers, emphasizing price discovery, risk management, and efficient settlement. Although SEBI revoked its recognition in May 2022 due to net worth shortfalls, ICEX has pivoted to mutual fund distribution and related services while exploring new fintech avenues.

Key Areas of Focus

ICEX prioritizes innovation in commodity derivatives, digital infrastructure, and market accessibility. Specifically, it emphasizes:

  • Pioneering unique contracts like the world’s first Diamond futures.
  • Agri and non-agri commodity hedging for farmers, traders, and industries.
  • Technology-driven trading with seamless disaster recovery and low-latency systems.
  • Post-revocation, shifting to mutual fund platforms and advisory services.

Business Operations and Market Position

ICEX operates a digital trading ecosystem with automated failover between data centers, ensuring zero data loss and sub-300 microsecond latencies. Before the 2022 revocation, it held a niche position as India’s fifth-largest commodity exchange, with daily turnovers peaking at ₹418 crore. Today, it leverages its infrastructure for mutual fund distribution, serving over 7,000 clients across 329 cities via 138 members and 1,298 authorized persons. This positions ICEX as a resilient player adapting to regulatory changes in India’s evolving financial landscape.

Core Product Portfolio

  • Commodity Futures: Diamond (1 carat), Steel Long, Paddy Basmati, and 13 other contracts spanning agri (spices, oils, fibers) and non-agri segments.
  • Innovative Derivatives: Global-first offerings like structured diamond and steel contracts for hedging.
  • Post-Revocation Services: Mutual fund distribution platform facilitating investments in equity, debt, and hybrid funds.
  • Ancillary Tools: Risk management, settlement outsourcing via MCCIL, and educational resources for traders.

Operational Capabilities and Expansion Plans

ICEX boasts advanced tech infrastructure from Millennium IT (London Stock Exchange Group), enabling high-speed trading and robust disaster recovery. With warehouses for physical deliveries and a network spanning 329 locations, it previously handled ₹40,511 crore in FY20 turnover. Moving forward, ICEX plans to expand mutual fund services, launch fintech advisory, and potentially re-enter derivatives post-regulatory compliance. Investments in digital platforms aim to scale user base to 10,000+ by 2026.

Promoters or Management

NameDesignation
Dr. H. K. PradhanChairman
Mr. Ajit Kumar MittalDirector
Mrs. Chitra ShringarePublic Interest Director
Mr. Vijay Kumar SharmaPublic Interest Director
Mr. Suresh Kumar AgarwalPublic Interest Director
Mr. Sanjit PrasadManaging Director & CEO

Shareholding Patterns

Shareholder CategoryHolding (%)
Reliance Exchangenext Limited (Promoter)16.33
MMTC Limited (Promoter)6.00
Indiabulls Housing Finance Limited (Promoter)5.62
Central Warehousing Corporation11.05
Indian Potash Limited5.00
Deputy Director (PMLA), Enforcement Directorate9.04
Other Public Shareholding44.65

Company Fundamentals

MetricDetails
Outstanding Shares53,35,07,476
Face Value₹5 per equity share
Authorized Share Capital₹3,000 crore
Paid-up Share Capital₹266.75 crore
ISININE0OLN01029
Lot Size100 shares
PAN NumberAAACI4798L
GST Number27AAACI4798L1ZK
Registered Office1st Floor, Office-109, Nodh No.-1158 to 63/65/9, Hat Faliyu, Mahidharpura, Surat-395003, Gujarat
Incorporation DateAugust 18, 2008
Category / Sub-CategoryPublic Company having share capital

Financials

Income Statement (₹ in thousands)

ParticularsFY 2022-23FY 2021-22
Revenue from Operations2,46212,260
Other Income15,8298,594
Total Revenue18,29120,854
Employee Benefits Expense28,41253,534
Operating Cost17,869108,138
Finance Cost6781,028
Depreciation & Amortization100,43437,742
Impairment430,3990
Other Expenses23,22537,781
Total Expenses600,017238,223
Profit Before Tax-581,726-217,369
Tax Expense3,3270
Net Profit After Tax-589,338-217,369

Balance Sheet (₹ in thousands)

ParticularsMar 31, 2023Mar 31, 2022
Property, Plant & Equipment21,94145,543
Intangible Assets0507,206
Non-Current Investments100,0000
Other Non-Current Assets2,716512,754
Total Non-Current Assets124,6571,065,503
Current Investments117,281143,181
Trade Receivables010,722
Cash & Cash Equivalents1,0347,573
Loans & Advances385,0000
Other Current Assets209,923219,114
Total Current Assets713,438381,590
Total Assets838,0951,447,093
Equity Share Capital2,667,5372,667,537
Other Equity-2,433,385-1,844,047
Total Equity234,152823,490
Settlement Guarantee Fund385,884380,352
Lease Liabilities (Non-Current)02,608
Other Financial Liabilities052,275
Provisions (Non-Current)6782,468
Total Non-Current Liabilities387,240437,703
Lease Liabilities (Current)3,2855,834
Trade Payables128,661136,429
Other Financial Liabilities69,06122,072
Other Current Liabilities25,83021,724
Other Current Provisions5350
Total Current Liabilities227,372186,059
Total Equity & Liabilities848,7641,447,252

Cash Flow Statement (₹ in thousands)

ParticularsFY 2022-23FY 2021-22
Net Profit Before Tax-582,725-217,370
Adjustments for Depreciation, Amortization & Impairment530,83337,742
Finance Cost (Lease)6781,028
Interest Income-9,036-83
Provision for Doubtful Debts1316,063
(Gain)/Loss on Foreign Exchange6,05982
Excess Provisions Written Back-2,5400
(Gain)/Loss on Mutual Funds-3,058-8,191
Cash Generated from Operations Before Working Capital Changes-59,776-170,729
Changes in Trade Receivables & Other Assets22,439-10,786
Changes in Other Current Financial Assets-13,6680
Changes in Other Non-Current Assets510,038-24,396
Changes in Other Non-Current Liabilities-1,790-6,323
Changes in Trade Payables & Other Liabilities-15,21443,869
Changes in Other Current Provisions-2,7510
Adjustment for Settlement Guarantee Fund5,53224,939
Cash Generated from Operations444,810-143,426
Net Income Tax Paid-2,351-1,127
Net Cash from Operating Activities442,459-144,553
Purchase of PPE & Intangibles-30-45
Proceeds from Sale of PPE50
Interest Received12,90198
Investment in Non-Corporate Debenture-100,0000
Proceeds from Current Investments (Net)28,958151,809
Loans and Advances Given-385,0000
Net Cash from Investing Activities-443,166151,862
Lease Rent Payments-5,834-6,280
Net Cash from Financing Activities-5,834-6,280
Net Change in Cash & Equivalents-6,5411,029
Cash & Cash Equivalents at Beginning7,5736,544
Cash & Cash Equivalents at End1,0327,573

Annual Reports and Regulatory Compliance

ICEX adheres to SEBI guidelines, with audited annual reports filed up to FY 2022-23. Reports detail governance, risk management, and financial health, available upon request. Post-revocation, ICEX maintains MCA compliance for its pivot to mutual fund services.

IPO Preparations and Market Listing Plans

ICEX has no active IPO plans following SEBI’s 2022 revocation. However, its strategic shift to fintech and mutual funds could pave the way for future relisting or public offering, pending regulatory approvals and business stabilization.

FAQs – How to Buy or Sell Indian Commodity Exchange Limited Unlisted Shares

How can I buy Indian Commodity Exchange Limited Unlisted shares?

Register on UnlistedShareBrokers, complete KYC with PAN, Aadhaar, and demat details, search for Indian Commodity Exchange Limited, select your lot, and place a buy order securely.

What is the minimum lot size for Indian Commodity Exchange Limited Unlisted shares?

Typically 100 shares, adjustable based on market availability and broker policies.

What documents are required for Indian Commodity Exchange Limited Unlisted shares transactions?

PAN card, Aadhaar card, Client Master Report (CMR), canceled cheque, and an active NSDL/CDSL demat account.

What is the current lock-in period for Indian Commodity Exchange Limited Unlisted shares?

Six months from acquisition, as mandated by SEBI for unlisted pre-IPO shares.

How are Indian Commodity Exchange Limited Unlisted shares transferred between accounts?

Through Delivery Instruction Slip (DIS)—submit offline to your DP or execute online via e-DIS on your broker’s platform.

What are the current valuation metrics for Tata Capital?

Note: This query references Tata Capital; for Indian Commodity Exchange Limited, shares trade at ₹5–₹6, with negative P/E due to losses and book value around ₹2.42.

What makes Indian Commodity Exchange shares attractive for investment?

Pioneering contracts, pivot to mutual funds, strong shareholders like Reliance and MMTC, and potential recovery post-revocation offer long-term upside.

What are the tax implications of Indian Commodity Exchange Limited Unlisted shares transactions?

Short-term gains (≤24 months) taxed at slab rates; long-term gains (>24 months) at 20% with indexation benefits. Dividends taxed per your income bracket.

Can I pledge Indian Commodity Exchange Limited Unlisted shares for loans?

Yes, subject to lender evaluation; typically 50–70% loan-to-value for quality unlisted shares.

What is the outlook for Indian Commodity Exchange’s IPO and exit opportunities?

No immediate IPO; focus on business pivot may lead to relisting. Exits via secondary markets or strategic sales offer liquidity.

Leave a Reply

    Our customer support team is here to answer your questions. Ask us anything!