MUMBAI, July 20 Private sector lender Kotak
Mahindra Bank has agreed to buy a 15 percent stake in
Multi Commodity Exchange of India (MCX) for 4.59
billion rupees ($76.1 million), the bank said in a statement
late on Sunday.
Kotak will purchase the stake from bourse operator Financial
Technologies (India) Ltd and the deal is subject to
regulatory approvals, the statement said.
The MCX offers trading in commodity futures including
metals, crops and spices.
The Securities and Exchange Board of India, the country's
capital markets regulator, had ordered Financial Technologies to
sell its entire stake in MCX in March.
($1 = 60.2800 Indian Rupees)
(Reporting by Nandita Bose; Editing by Erica Billingham)