Bajaj Holdings and Investment Limited has acquired 3.06% stake in MCX by purchasing 1.56Mn shares from Passport Capital LLC.

Bajaj Holdings bought the shares at R800 a piece, a fews days before the MCX offering opened for subscription.

According to RHP filed on SEBI, Passport Capital LLC held 2.5 Mn Shares constituting 4.9% stake in MCX.

San Francisco based Passport Capital manages approximately $3.7 bn in assets. It invests in Agriculture, Basic Materials, Consumer, Energy, Financial Services, Healthcare, Capital Markets, Internet / Technology, India and Middle East & North Africa.

Bajaj Holdings & Investments Ltd (BHIL) was created out of the demerger scheme of Bajaj Auto and primarily functions as an investment company of Bajaj Group & currently holds strategic stake in Bajaj Auto, Bajaj Finserv and Maharashtra Scooters. It also holds group investments in ICICI Bank and also has 10% stake in rating agency Credit Analysis & Research (CARE).

MCX saw its IPO oversubscribed by 54 times. The IPO opened on 22 February and closed on 24 February. In that time, it received bids for R36000cr (over $7 bn), compared to the offer size of R663Cr ($135 mn) and the retail portion of the issue was oversubscribed by 24 times, the highest-ever retail participation in an IPO in the country.

Multi Commodity Exchange, who received SEBI’s approval for IPO last year has raised $19.4 Mn from anchor investors in pre IPO share sale.

The anchor investors that bought MCX shares in the pre-IPO sale include BlackRock Global Funds, Deutsche Securities, Kuwait Investment Authority Fund, Credit Suisse, ICICI Prudential Mutual Fund and Tata AIG Life Insurance.

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