India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
The country's largest refiner Indian Oil Corp is planning an initial public offer of its Sri Lankan subsidiary Lanka IOC by June this year to raise between $20-25 million.
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