Reliance Money, a unit of Reliance Capital and part of the Anil Dhirubhai Ambani group, has sought permission to acquire an additional 16% stake in the National Multi-Commodity Exchange (NMCE).

Last month, Reliance Money picked up 10% stake in NMCE and now the firm is seeking approval from the Forward Markets Commission (FMC) and Ministry of Consumer Affairs for an additional 16 per cent stake in NMCE within the next three months.

Reliance Money has proposed to invest Rs 26-crore through acquisition of a total of up to 26% stake in NMCE, which would be completed in two phases. 

NMCE is the oldest and smallest of India’s three national-level commodity derivatives exchange. The others are Multi Commodity Exchange of India and National Commodity and Derivatives Exchange of India.

Currently, the list of major shareholders includes Central Warehousing Corporation (26 %), Punjab National Bank (11%), Nafed (5%), Government of Gujarat (11%) and Neptune Overseas Ltd, belonging to promoter Gupta, around 24%. The rest of the stake is held by small stakeholders.