Blackstone exits MCX, sells 4.8% to Swiss Fin Corp for Rs 300 crore

MUMBAI: PE major Blackstone on Friday exited its investment in MCX by selling nearly 4.8% stake to Swiss Finance Corporation for Rs 300 crore.

Blackstone, through its Mauritius subsidiary, Blackstone GPV Capital Partners, held 4.79% stake in the commodity exchange as on September 30, 2016.

The shares of MCX jumped 8.7% to an intraday high of Rs 1,413.40 on BSE, shy of its 52-week high hit on October 3, after news of Blackstone's sale.

The share closed up 2.56% at Rs 1,328.65 on Friday.

Blackstone has initially purchased 2% of MCX's equity capital in 2013 from Merrill Lynch for . 104 crore and another 2.79% from it for Rs 81.5 crore almost a year later. The country's largest commodity exchange and its only listed one reported a net profit of Rs 37.65 crore on revenue of Rs 65 crore in the September quarter.

It commands over 80% share in the commodity futures segment leading its rival agri bourse NCDEX by a wide margin.