NCDEX Raises ₹770 Crore as Dalal Street’s Who’s Who and Global Funds Back the Exchange
Mumbai, August 2025:
The National Commodity & Derivatives Exchange (NCDEX) has successfully raised ₹770 crore through a preferential issue, and what makes this fundraise remarkable is the extraordinary line-up of investors who have come on board. From Dalal Street legends and top domestic institutions to global funds and fintech pioneers, the who’s who of the investing world has placed their bet on NCDEX’s future.
Dalal Street Heavyweights Join In
The fundraise saw active participation from some of the most respected names in Indian stock markets:
- Radhakishan Damani – billionaire investor and founder of D-Mart.
- Ramesh Damani – veteran market voice with decades of investing wisdom.
- Madhusudan Kela – ace stock picker and trusted name in India’s investing circles.
Other well-known HNIs like Viral Parikh, Kanchan Singhania, Suchitra Hari, Teena Gandhi, and Nirmala Mehta, further adding credibility to the investor pool.
When icons of this stature invest, it sends a strong signal of confidence about NCDEX’s potential to reinvent itself beyond agriculture.
Strong Institutional Muscle
Beyond individuals, the issue drew in India’s largest financial institutions:
- Kotak Mahindra Life Insurance Company Ltd.
- Share India Securities
- SMC Global Securities
- JM Financial Products
Excel Stock Broking, Ashika Credit Capital, Marwadi Chandarana, Master Trust, Jaypee Capital, Antique Securities, Monarch Networth, Adroit Financial Services, Kedia Securities, among many others.
This diverse participation reflects the faith of domestic financial powerhouses in NCDEX’s growth trajectory.
Global Funds Add International Credibility
The preferential issue also saw international investment giants participate, giving NCDEX global validation:
- Tower Research Ventures LLC (USA) – a leader in global quantitative trading.
- Citadel Securities Principal Investments LLC (USA) – one of the world’s biggest market makers.
- Acacia Banyan Partners (Mauritius) – an international investment fund.
Their involvement adds not only capital but also global expertise and recognition to NCDEX’s platform.
Fintech and New-Age Capital Flows In
What makes the investor mix even more exciting is the entry of fintech-focused funds and venture capital players:
- Rainmatter Capital Fund – backed by Nithin Kamath of Zerodha, a pioneer in India’s fintech story.
- Billionbrains Garage Ventures Ltd. and Alt-Alpha Fintech Pvt. Ltd. – highlighting startup-style confidence in NCDEX’s innovative edge.
This ensures that NCDEX’s growth story resonates not just with traditional finance, but also with new-age digital finance backers.
Why This Fundraise Matters?
By raising ₹770 crore from such a wide and respected set of investors, NCDEX has achieved much more than a capital boost:
- It has gained credibility from India’s most trusted market veterans.
- It has secured institutional and insurance backing to ensure stability.
- It has attracted global recognition from international giants.
- It has pulled in fintech innovators to future-proof its growth.
Bottom Line
NCDEX’s successful ₹770 crore fundraise isn’t just about money it’s a powerful endorsement. From Damani, Madhu Kela, and Kotak Life to Tower Research, Citadel, and Zerodha’s Rainmatter, the who’s who of investing has put their weight behind NCDEX.
With such a stellar backing, NCDEX is well-placed to accelerate its transformation journey from dominating agriculture with a 97% market share to building new frontiers in equity and weather derivatives.