What commodities are traded on NCDEX?

NCDEX specializes in agricultural commodity derivatives including soybean, soy oil, chana, guar seed, castor seed, jeera (cumin), pepper, wheat, barley, and other agri-commodities. It also offers indices and options on agri-commodities.

Who are the shareholders of NCDEX?

NCDEX is promoted by leading Indian institutions including ICICI Bank, NSE (National Stock Exchange), LIC (Life Insurance Corporation), NABARD (National Bank for Agriculture), IFFCO (cooperative fertilizer major), Punjab National Bank, Canara Bank, and CRISIL.

How is NCDEX regulated?

NCDEX is regulated by SEBI (Securities and Exchange Board of India) following the merger of the Forward Markets Commission (FMC) with SEBI in September 2015. This brought commodity exchanges under SEBI's integrated regulatory framework.

What is NCDEX's market position relative to MCX?

While MCX dominates overall commodity derivatives volumes (mainly metals and energy like gold, silver, crude oil), NCDEX is the dominant exchange specifically for agricultural commodity futures and options in India.

Is NCDEX planning an IPO?

NCDEX has explored an IPO at various points but no confirmed listing timeline exists as of 2025. The company remains unlisted with its shares trading in the OTC/unlisted market.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for NCDEX (National Commodity & Derivatives Exchange)?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell NCDEX (National Commodity & Derivatives Exchange) shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

NCDEX (National Commodity & Derivatives Exchange) Unlisted Share Price | Buy NCDEX (National Commodity & Derivatives Exchange) Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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NCDEX (National Commodity & Derivatives Exchange) Unlisted Share Price | Buy NCDEX (National Commodity & Derivatives Exchange) Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

NCDEX is India's only dedicated agricultural commodity exchange with strong institutional backing and strategic importance in price discovery for agri-commodities. However, persistent government interventions and lower volumes compared to MCX have constrained financial performance. The exchange's long-term value lies in India's agricultural supply chain formalization, but near-term upside is limited by policy uncertainty and illiquidity of its unlisted shares.

Pros

India's premier agricultural commodity derivatives exchange with a dominant market share in agri-commodity futures
Backed by marquee institutional shareholders including ICICI Bank, NSE, LIC, NABARD, IFFCO, and nationalized banks — providing deep institutional credibility
Regulated by SEBI since the FMC-SEBI merger in 2015, bringing it under robust regulatory oversight alongside equity and currency derivatives
Strong brand recognition among agricultural hedgers (farmers, aggregators, processors, exporters) in key agri-commodity markets
Strategic importance as India's agri-commodity price discovery platform, with futures contracts in soybean, chana, jeera, castor seed, guar, and other key crops

Cons

Significantly lower trading volumes compared to MCX (Multi Commodity Exchange), the dominant commodity exchange in India, which focuses on metals and energy
Agricultural commodity derivatives are susceptible to government intervention — bans on futures trading in essential commodities (chana, wheat, paddy) materially reduce volumes
Revenue growth constrained by periodic SEBI/government-imposed trading suspensions in key contracts like chana, tur, and urad
Profitability has been under pressure due to low volumes in agri-derivatives relative to MCX's energy/metals dominance
No IPO date confirmed; investors in unlisted shares face indefinite illiquidity

Business Segments

Agricultural Commodity Derivatives

Futures and options trading on agricultural commodities including soybean, chana, castor seed, guar, jeera, and other agri-crops

Membership & Technology Services

Membership fees, terminal fees, co-location services, and data/analytics products for market participants

Repository & Ancillary Services

Warehouse receipt services, commodity repository linkages, and ancillary platform-based services

Revenue Model

NCDEX earns transaction-based revenue (fees per lot traded) from futures and options trading on its agricultural commodity derivatives platform. Additional revenue streams include membership fees from registered members/brokers, technology and co-location charges, data subscription fees, and fees from ancillary services. Revenue is directly tied to trading volumes, which are impacted by commodity price cycles and government policy on futures trading.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds11

Growth Plans

Lifting of government-imposed commodity futures bans allowing all agri-contracts to trade freely

Increased participation from agri-processors, exporters, and institutional hedgers

Integration of warehouse receipt financing with exchange-traded derivatives (agri-value chain fintech)

Potential IPO unlocking institutional investor interest and price discovery

Industry Tailwinds

Recent Developments

New agri-commodity index products

NCDEX continued developing index-based products and options on agri-commodities to diversify its product suite beyond individual futures contracts.

2023-06

Government ban lifted on some contracts

SEBI and the government periodically reviewed the suspension of futures trading in essential food commodities; some contracts were allowed to resume which aided volume recovery.

2022-12

Integration with commodity ecosystem

NCDEX expanded its integration with warehouse receipt financing, commodity repository services, and electronic negotiable warehouse receipts (eNWR) to create a full agri-supply chain platform.

2024-03

Comparable Companies

CompanyTypeTickerMkt Cap

Multi Commodity Exchange of India LimitedListedMCX~₹18,000 Cr (listed)

BSE LimitedListedBSE~₹55,000 Cr (listed)

National Stock Exchange of IndiaListedUnlisted~₹2,10,000 Cr (unlisted)

Multi Commodity Exchange of India LimitedListed

MCX · ~₹18,000 Cr (listed)

Frequently Asked Questions

About NCDEX (National Commodity & Derivatives Exchange)

National Commodity and Derivatives Exchange Limited (NCDEX) is India's leading agriculture-focused commodity exchange, incorporated in 2003 with CIN U51909MH2003PLC140116. Headquartered in Mumbai, NCDEX is a nationally-recognised commodity derivatives exchange regulated by the Forward Markets Commission (FMC) and subsequently SEBI after the merger of FMC with SEBI in 2015. NCDEX provides an electronic platform for trading in agricultural commodity derivatives — futures and options contracts on crops including soybean, guar, jeera (cumin), castor seed, chana, and other agricultural commodities. The exchange is primarily agriculture-focused, distinguishing it from MCX (Multi Commodity Exchange) which dominates metals and energy commodities. The exchange's key shareholders include institutional investors such as NSE, LIC, NABARD, PNB, ICICI Bank, and CANARA Bank — giving it strong institutional backing. NCDEX plays a vital role in India's agricultural price discovery mechanism and enables farmers and agribusinesses to hedge price risk. For FY2025, NCDEX reported revenue of ₹122 crore. The exchange reported a profit of ₹234 crore in FY2025, though this was primarily from one-time gains from asset sales. In FY2024, net loss narrowed to ₹277 crore from ₹423.7 crore — reflecting improving but still loss-making core operations. NCDEX's trading volumes have been significantly lower than MCX, constraining its transaction fee income. NCDEX has been revamping its product offerings including launching new agri contracts, Commodity Indices, and digital platforms to serve India's 150+ million farming households. The exchange is uniquely positioned as the agriculture commodity price discovery platform for India's massive farm sector.

Key Milestones

2003: Incorporated in Mumbai under CIN U51909MH2003PLC140116 with institutional backing from India's leading financial entities

Common questions about unlisted shares

How do I buy NCDEX (National Commodity & Derivatives Exchange) unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

National Commodity and Derivatives Exchange Limited

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