RATING

RECOMMENDATION

Sell

  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Sell

Business Type

Fairly Valued

RATING

RECOMMENDATION

Sell

Business Type

Fairly Valued

Discover and get a complete analysis on ICEX Pre IPO - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get latest updates on ICEX Financial Statements.

ISIN

INE678L01012

Face Value

₹5.00

Total Share

53,35,07,476

Total Income

₹3.85 Cr

Profit After Tax

-₹25.67 Cr

EPS

-₹0.48

P/E

-14.58

P/B

2.48

Market Capitalisation

₹373.46 Cr

Enterprise Value

₹372.80 Cr

Book Value

₹2.83

Intrinsic Value

₹11.00

Earnings Yield

-6.86 %

Sector

Financials

Sub-sector

Stock Exchange & Ratings

Category

Micro Cap

Cashflow - Operations

-₹21.28 Cr

Cashflow - Financing

-₹0.61 Cr

ICEX Growth

Compounded Sales Growth

  • -55.92%

    1 Year

  • -25.66%

    3 Year

  • 222.36%

    5 Year

Pro Only

Compounded Profit Growth

  • NA

    1 Year

  • NA

    5 Year

Pro Only

Return On Equity

  • -17.01%

    2021

  • -13.34%

    2019

  • -19.41%

    2017

Pro Only

About ICEX

  • Indian Commodity Exchange Limited (ICEX) is SEBI regulated online Commodity Derivative Exchange. It was registered in 2018. Headquartered at Mumbai, the exchange provide nationwide trading platform through its appointed brokers. The company offers the platform for derivatives of precious metals, industrial metals, spices, oil complexes, energy products, fibers, and various agricultural products. ICEX serves farmers, traders, and actual users in the Indian market.
  • The exchange has now 14 different commodity derivatives contracts available for trading on its platform.   
  • ICEX is the first exchange in India to adopt global hi-tech platform that ensures automatic and seamless switch-over from its Data Center (DC) to the Disaster Recovery (DR) site with zero data loss in case of exigencies. 
  • During the FY 2018-19, the Hon’ble National Company Law Tribunal (NCLT) sanctioned the amalgamation of National Multi-Commodity Exchange of India Limited (“NMCE”) with ICEX vide its common order dated 27 August, 2018 and 31 August, 2018, and the merger was effective from 7 September, 2018.
  • ICEX has created world’s first organized, transparent and regulated derivatives market for diamond. 
  • On 11th July 2019, ICEX launched ‘Paddy Basmati’ Derivatives Contract while on December 27, 2019 the Exchange launched ICEX MF Platform, a mutual fund platform to facilitate transactions in Mutual Fund.
  • ICEX helps farmers in key aspects like price discovery, risk management. Also, allows them to trade in derivative contracts which are not available in MCX.

  • ICEX IPO Details

ICEX is not a listed company and there is no news for Upcoming IPO

  • ICEX Merger & Acquisition

Merger

On 3rd September 2018, The National Company Law Tribunal (NCLT), has approved the merger of Ahmedabad based National Multi Commodity Exchange (NMCE) with reliance anchored ICEX. It creates India’s third largest commodity derivatives exchange offering a wide range of commodity contracts which includes Rubber, Castor Seed, Mustard Seed and Jute apart from Diamond and Steel.

  • ICEX Revenue Segmentation

  • Transaction fee
  • Other Income
  • Other membership fee
  • Connectivity charges
  • ICEX Product & Services

Exchange Operation

  • ICEX Assets

Assets of the company include Furniture and fixtures, Leasehold improvements, Computers, Equipment, Office buildings, Vehicles.

  • ICEX Industry Overview

Industry Statistics

  • One of the method to invest, diversify and ensure a positively healthy portfolio is commodity trading. The commodity market in India is over 100 years old but was officially established through a legal trading mechanism in the year 2003.
  • SEBI regulates the commodity derivatives market in India since September 28, 2015. Before 2015 the Commodity derivatives market was regulated by erstwhile Forward Markets Commission (FMC).
  • According to ICEX India is well positioned in commodity trade to provide global benchmark reference price in multiple commodities. In most of the globally traded commodities, India is among the top five either in production or consumption or import and export.
  • Over last 5 years revenue of the industry has been grown at an average of 3.07%. while net profit has seen growth of 6.77%.
  • Major part of commodity market has been grabbed by MCX i.e., 92.6%, while ICEX cover less then 1% of the market share.
  • Large part of revenue for this industry comes from Commission on trade and this increase with the increase in participation of members. As the amount of trade increases, prices of the commodity also increases and this will led to increase in commission for exchange.
  • This industry is partially cyclic, as demand of commodities differ at different times, and specifically crops, they are seasonal.
  • Less then 1% of the people take actual trade, others only buy for speculation or arbitrage. 

Future Prospects

  • Commodities are an important aspect of individual's daily life and they will be used forever. Their demand may go up and down at times, but in long term they will prove to be effective and useful investments.
  • For investors, commodities can be an important way to diversify their portfolios beyond traditional securities. Because the prices of commodities tend to move in opposition to stocks, some investors also rely on commodities during periods of market volatility.
  • Institutes has also increased using commodity hedge funds to reduce their risk and they their demand is increasing every year.
  • Policy changes like Improved farmer access to agriculture markets, better credit facility and upbeat sentiments about the economy, particularly agriculture, have created lot of interest and euphoria about the commodity markets.

Government Initiatives

  • SEBI regulates the commodity derivatives market in India since September 28, 2015. Before September 28, 2015, the Commodity derivatives market was regulated by erstwhile Forward Markets Commission (FMC).
  • Considering the aforesaid inputs, SEBI decided that during initial phase, focus shall be more on understanding and strengthening the existing micro-structure of the commodity derivatives markets and the market development may be visited thereafter. Accordingly, two markets viz., commodity derivatives and rest of the securities markets were kept segregated initially.
  • Commodity derivatives exchanges were given time to come at par with the stock exchanges with respect to certain regulatory norms e.g. net worth requirements, shareholding norms, clearing through separate clearing corporations etc. Some of these objectives related to clearing of trades through clearing corporation and shareholding norms are yet to be achieved.
  • In 2020 it was decided that the integration between securities would be achieved in two phases. In Phase-I, it was proposed to have integration at Intermediary level. In Phase-II, necessary steps would be taken to enable a single exchange to operate various segments such as equity, equity derivatives, commodity derivatives, currency derivatives, interest rate futures & debt etc.
  • Recently SEBI has taken various steps to boost commodity derivative market. In a major decision to strengthen commodity market, SEBI permitted mutual funds to participate in commodity futures along with PMS.

ICEX Strengths

  • Company is continuously innovating its products and bringing new commodities in its portfolio. It has also created world’s first organized, transparent and regulated derivatives market for diamond. 
  • The average daily turnover during F.Y 19-20 was ₹ 156.41 crores as compared to ₹ 93.62 crores in F.Y 2018-19 (single side) with a total of 7098 clients traded on the exchange .
  • The total volume traded during F.Y 19-20 was 7,89,08,656 lots as compared to 5,55,00,358 lots in F.Y 18-19.
  • Company has national reach with 138 SEBI registered members, having 1298 Authorised Persons, operating through 3340 terminals including Computer to Computer Link (CTCL) across 329 cities / towns across India as on March 31, 2020. 
  • ICEX is the first Exchange in India to adopt a global hi-tech platform, which ensures automatic and seamless switch-over. Also, it prevents data loss from its Data Center (DC) to the Disaster Recovery (DR) site.
  • ICEX does not have any debt and have some prominent investors, which include Reliance Exchange next Limited, MMTC Ltd, Indian Potash Limited etc.

ICEX Shortcomings

  • ICEX covers less then 1% market share of commodity exchange market.
  • Total revenue of the company has seen a fall of more than 50% in FY21 due to reduction in operating income like transaction fee, membership fee etc.
  • Revenue and net profit growth of the company is negative while industry average is much higher i.e., 3.07% and 6.77% respectively.

ICEX Opportunities

  • Volume of trade is increasing due to increased investors participation.
  • Due to higher participation in commodity market, volatility is very high and this led to increase in prices of commodity.
  • Technology for trading is getting advanced day by day which creates many opportunities for the exchange to make services more user friendly.
  • Exchange can bring new type of commodity to trade on their platform to remain ahead of competitors.

ICEX Threats

  • MCX is the biggest commodity exchange in India, and it can be difficult for ICEX to compete with it.
  • Maximum financial data of the company is negative, and is lying within same band from last 5 years.
ICEX Rating

  • RECOMMENDATION

    Sell

  • ICEX Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

last Updated

28/10/2021

Registered Date

18/08/2008

Planify Ticker

ICEX

Reg Office: Office No.109, 1st Floor, Nodh No. 1158 to 63/65/9, Hat Faliyu, Airoli, Navi Mumbai – 400708

Visit Website

Frequently Ask Questions

The ICEX has not expressed any intentions of an initial public offering as of now.

The face value of the ICEX is Rs. 5

ICEX is in loss from past many years, and is expected to continue the same trend.

Major shareholders of ICEX are Reliance Exchange next Limited, Indiabulls Housing Finance Limited and MMTC Limited.

Mr. Vijay Kumar Sharma  is the chairman of ICEX.

The exchange has created the world's first organized, transparent and regulated derivatives market for diamonds. It has national reach with 138 SEBI registered members, having 1298 Authorized Persons, operating through 3340 terminals across 329 cities/towns.

The minimum holding period after the ICEX has been listed is 6 months.

The total Loss of the ICEX for FY21 is -₹25.67 Cr.

Please find below the procedure for buying stock_name_auto Unlisted Shares at Planify.
• 1. You confirm booking of stock_name_auto Unlisted Shares with us at a trading price.
• 2. You provide your client master report (ask the broker if not available) along with PAN Card and Cancelled Cheque in case you are not transferring funds from the bank account as mentioned in the CMR Copy. These are KYC documents required as per SEBI regulations.
• 3. We will provide the bank details.
• 4. You need to transfer funds in that account.
• 5. Payment has to be done in RTGS/NEFT/IMPS CHEQUE TRANSFER. No CASH DEPOSIT.
• 6. Payment has to be done from the same account in which shares are to be credited.
• 7. We will transfer the shares in 24 hours if funds are credited before 2 pm.
Important Note: Please note that the lock-in period for selling stock_name_auto Unlisted Shares is 6 months after listing. Hence you can’t sell stock_name_auto Unlisted Shares which you bought in Pre-IPO for 6 months after its listing. i.e. You can sell it only after 6 months calculated from the listing date.

Please find below the procedure for selling stock_name_auto Unlisted Shares at Planify.
• 1. We will confirm our buying price of stock_name_auto Unlisted Shares.
• 2. We will give you our client master report and you will transfer the stock_name_auto Unlisted Shares to our demat account.
• 3. We will ask for bank details of yours once the stock_name_auto Unlisted Shares are received in our demat account..
• 4. We will transfer the funds in your bank account within 24 hrs of receiving the stock_name_auto Unlisted Shares.
• 5. Payment will be made in RTGS / NEFT / CHEQUE TRANSFER/IMPS. No CASH DEPOSIT.
• 6. Payment will be given in the same account which is linked to demat account or you need to provide the cancelled cheque shows your name to verify. As per SEBI regulations, the transfer of funds in the third party account is not legal and our policy refrain us from doing so.
Note: The price at which we are buying the share is fixed for 3 days. If you cant sell your stock within 3 days, then the price of that day will be applicable when we receive shares in our demat.

Lock-in period of stock_name_auto Unlisted Shares depends upon category of investors.
• 1. Venture Capital Funds or Alternate Investment Fund of Category -I or II, or Foreign Venture Capital Investor - lock-in Period of 6 months from the date of acquisition of stock_name_auto Unlisted Shares.
• 2. Other Investors (include Retail, HNIs or Body Corporate) lock-in Period of 6 months from the date of listing of IPO of stock_name_auto Unlisted Shares.
This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

DIS - Delivery Instruction Slip is the way through which an investor can sell or transfer the stock_name_auto Unlisted Shares from his/her demat account to any other demat account. There are two Types of DIS Slip.
1. Offline-DIS - This is an offline mode of transfer of shares wherein the investors needs to fill DIS form and give it to their broker for transferring the shares. Following are the fields which are required to be filled.
• a. ISIN number of stock_name_auto Unlisted Shares.
• b. Name of stock_name_auto Unlisted Shares
• c. Quantity of stock_name_auto Unlisted Shares
• d. Cosideration Amount
• e. Target DP ID and Client ID
• f. Annexure
2. Online DIS - Some of the broker these days gives facility of transferring the stock_name_auto Unlisted Shares via online DIS. So, please check with your broker whether such facility is available or not. For example: Angel Broking proivdes the facility of Online-DIS from its platform. As an investor he/she simply needs to add a beneficiary into it and send the stock_name_auto Unlisted Shares by filling the details similar to Ofline-DIS.

In the last 4-5 years, the unlisted share market has become quite big and as a result of that, the ticket size has reduced from usual 5-10 Lac to 35-50k in today's scenario. Generally via our Planify platform, if somebody wants to buy Unlisted Shares then minimum investment would be 35-50k.To know about the minimum lot size of stock_name_auto, kindly click on this hyperlink - stock_name_auto.

Yes, buying and selling of unlisted shares in India is 100% legal.

If you sell your shares within 2 years, then you will have to pay Short-term Capital gain on unlisted shares. Short-Term Capital Gain is added in your Income. So, as per individual tax slab you need to pay capital gain tax.

If you sell your shares after 2 years, then you will have to pay Long-term Capital gain on unlisted shares LTCG is 20% with indexation benefits.

Taxes will remain the same irrespective of listing of shares, if bought in unlisted market. Actually, to be eligible for taxes as per listed market, one has to pay STT on buying and selling of shares. But, if you buy in unlisted and sell in listed market, one pay STT only on selling so, taxes of listed market will not be applicable.

If you buy stock_name_auto Unlisted Shares from Planify then these shares can checked in two ways. However, before we tell you the process of checking of shares, it is intimated that as per SEBI regulations, the shares can be transferred in demat account only.
Check credit of stock_name_auto Unlisted Shares Instantly?
• 1.You can download the NSDL or CDSL application from google play-store and check. If you want to check whether your stock broker is registered with NSDL or CDSL then check the following procedure.
• By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Demat Account = DP ID + Client ID. (16 Characters )
• "DP ID is the unique identification of the Broker. Every broker gets a unique number from CDSL or NSDL.By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Client ID is the unique identification of the Client. Every client gets this unique number which represents his/her portfolio.
• In CDSL, all these characters are numbers (1234567891234567) first 8 digits are DP ID and next 8 digits are Client Id whereas in NSDL the first two characters are letters which are in accordance with the country that you are from (IN12345678912345), then 6 unique digits for Broker and next 8 digits are client ID.
• Example:
• CDSL = 12345678(DP ID) and 91234567(Client ID).
• NSDL = IN123456 (DP ID) and 78912345(Client ID).
• Check in brokers application?
• Credit of stock_name_auto Unlisted Shares can be checked in brokers application as well but it takes T+2 days to show the shares.

The stock_name_auto Unlisted Shares are credited in demat account same day of transferring funds in our company's bank account.

The price of stock_name_auto Unlisted Shares can be checked in two ways. First, you can join our telegram channel where on daily basis we share the latest prices of all the unlisted shares in the morning and secondly, you can register on Planify.live platform to see the historical graphs and prices of all the shares at one place.

If you see the thesis of investment in the unlisted shares then it is being done mainly to take the advantage of IPO market. And, if the IPO plans of company get delayed due to market conditions or any other reason then demand suddenly drops in the market. The unlisted market works mainly on demand and supply and if there is no IPO news then getting exit would be difficult.

"Planify is India's fastest and leading marketplace to buy and sell unlisted shares. In the last 3 years, we have already served more than 1 million users on the platform. The total transactions value done from the platform is already more than 100 Crores. The name of our Co-founders Mr. Umesh Paliwal and Dinesh Gupta publish regularly in leading newspapers like MoneyControl, Business-Standard, ET etc for their views on IPO and Unlisted market. In the last 3 years, Planify has made a good name for itself in the industry and gained a trust of their users. So, the new investors should not be worried about any kind of fraud that is mostly happens with unkown brokers in the market while doing investment with Planify."

We at Planify do the valuation based on 2 methods.
• 1. We check the last funding that is being done in the stock_name_auto Unlisted Shares to ascertain the benchmark valuation.
• 2. If there is no funding happened in the company, then we try to find a business similar to stock_name_auto Unlisted Shares in the listed space and do comparison method to ascertain the valuation.
As an investor in the unlisted space, we would always recommend that you must check all the risk parameter carefully before investing in the unlisted space.

We source shares either from the employees or initial investors looking to liquidate their stock_name_auto Unlisted Shares.

Pre-IPO shares means which are planning for an IPO in near future. So, all the shares which are traded on the platform are not Pre-IPO Shares. However, if the company's business is going good and then demand will always be there in the unlisted space, so even if the IPO does not come, the investors can easily liquidate their stock_name_auto Unlisted Shares in the unlisted market itself.

Rules and regulations of SEBI are applicable in the Unlisted space like lock-in period of 6 months, paying of Stamp Duty, and DP Charges for every transaction etc. However, to become an unlisted broker there is no such regulation by SEBI as of yet.

For tracking news and other information about stock_name_auto Unlisted Shares, one can visit our website wherein we post news and other information on daily basis and one can also join our telegram channel.

Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of stock_name_auto Ltd unlisted share.

We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of stock_name_auto Ltd unlisted shares with us.

The financials of stock_name_auto Ltd which includes the P/L of stock_name_auto Ltd and the Balance Sheet of stock_name_auto Ltd is in the financials section.

The annual report of stock_name_auto Ltd is available in the annual report section.