MCX Secures SEBI Approval To Set Up Coal Exchange Subsidiary

24 Apr 2026 CW Team

MCX said it will incorporate the new firm, likely to be named MCX Coal Exchange Ltd or MCX Coal Exchange of India Ltd, and will initially hold a full equity stake. The filing indicated the subsidiary will be established to operate a specialised platform for coal trading under draft Coal Exchange Rules. The subsidiary is intended to provide a regulated marketplace for standardised coal contracts and to support price transparency. The move is positioned as part of MCX's strategy to broaden its commodities offerings.

The exchange said it will commit capital of up to Rs one billion to meet minimum net worth requirements under the draft rules. The amount converts the originally stated Rs 100 crore into an equivalent figure reported in the filing. The capital commitment is designed to ensure compliance with the draft rules and to establish operational infrastructure for the platform. MCX will hold the entire stake at incorporation while retaining the option to admit strategic partners at a later stage.

Market participants said the new platform will widen price discovery and liquidity for coal contracts once operational, and that details on product design and timelines will be finalised following incorporation. The company will proceed with necessary regulatory steps and internal approvals before commencing trading activities. Timelines were not disclosed in the filing and will be announced subsequently. Observers said the development would intensify competition among existing commodity platforms and provide an institutional avenue for physical coal transactions.

Multi Commodity Exchange (MCX) has received approval from the Securities and Exchange Board of India (SEBI) to invest in a proposed coal exchange company. The regulator granted approval on April 17, enabling MCX to proceed with plans to set up a wholly owned subsidiary. The exchange is India's leading commodity bourse and outlined the proposal in a regulatory filing. The development follows the filing and confirms the firm's intent to enter the coal trading space. MCX said it will incorporate the new firm, likely to be named MCX Coal Exchange Ltd or MCX Coal Exchange of India Ltd, and will initially hold a full equity stake. The filing indicated the subsidiary will be established to operate a specialised platform for coal trading under draft Coal Exchange Rules. The subsidiary is intended to provide a regulated marketplace for standardised coal contracts and to support price transparency. The move is positioned as part of MCX's strategy to broaden its commodities offerings. The exchange said it will commit capital of up to Rs one billion to meet minimum net worth requirements under the draft rules. The amount converts the originally stated Rs 100 crore into an equivalent figure reported in the filing. The capital commitment is designed to ensure compliance with the draft rules and to establish operational infrastructure for the platform. MCX will hold the entire stake at incorporation while retaining the option to admit strategic partners at a later stage. Market participants said the new platform will widen price discovery and liquidity for coal contracts once operational, and that details on product design and timelines will be finalised following incorporation. The company will proceed with necessary regulatory steps and internal approvals before commencing trading activities. Timelines were not disclosed in the filing and will be announced subsequently. Observers said the development would intensify competition among existing commodity platforms and provide an institutional avenue for physical coal transactions.

Infrastructure Urban

24 Apr 2026

Centre Examines Duty Relief Under MOOWR For Battery Storage Imports

The finance ministry is examining whether to continue customs warehousing benefits under the Manufacture and Other Operations in Warehouse Regulations, 2019 framework for imported battery energy storage systems. It plans consultations with the ministries of power and new and renewable energy to decide on the future scope of duty and GST deferment for such imports. The review follows concerns from the renewable energy sector that the current approach is creating an uneven playing field. Under the regulations, companies may import goods without paying customs duty or goods and services tax upfro..

Infrastructure Urban

24 Apr 2026

Jamshedpur MP Seeks Rs 4,820 Million Plan For Tatanagar Platforms

Member of Parliament Bidyut Baran Mahato held a meeting with Vikas Jain, Executive Director (Public Grievances) of the Railway Board, following a special session of Parliament to press for accelerated rail infrastructure work around Jamshedpur and Tatanagar. The discussions addressed a range of projects that the ministry is prioritising for the area. Final Location Surveys for the construction of the fourth and fifth railway lines between Pandrasali and Kandra and for the development of a satellite station near Tatanagar have already been approved, clearing the way for detailed planning. Mahat..

Infrastructure Energy

24 Apr 2026

Final Batch Of Two 3,300 HP Locomotives Reach Mozambique

The final batch of two 3,300 horsepower (hp) locomotives manufactured by Banaras Locomotive Works (BLW) has reached Mozambique, marking completion of an export consignment. The locomotives arrived at Maputo harbour and were cleared for onward movement to the national rail operator. The shipment closes a programme that began with earlier consignments delivered over the past months. Banaras Locomotive Works, a production unit of Indian Railways, built the locomotives under a contract with the Mozambican rail authority and managed the final inspections and commissioning preparations prior to disp..