NCDEX Unlisted Share Price Description – The National Commodity & Derivatives Exchange (NCDEX) is a premier agri-commodity exchange based in Mumbai, Maharashtra. With a commanding presence in agricultural derivatives, NCDEX remains the digital backbone for Indian farmers and traders in commodity trading.
Established in 2003, NCDEX was India’s first fully computerised agri-commodity exchange. It is owned by leading financial institutions, banks, and government agencies. NCDEX has made commodity trading legal, safe, and transparent across India, offering rural as well as urban participants easy market access.
As of August 2025, NCDEX’s market capitalization stands at INR 1,764 crore. Its benchmark indices have elevated agricultural trading in India. The exchange’s integrated business model includes online listings, clearing and settlement, spot and derivatives trading, agri warehousing, and market data solutions. This article offers a seasoned perspective on NCDEX’s unlisted shares, their price dynamics, financial performance, benefits and risks of investment, and the road ahead for 2025.
As a SEBI-regulated, demutualized online commodity exchange, it is recognized for technology-driven operations, broad product offerings (with 23 permitted commodities), and a vast network comprising over 2.9 million clients and hundreds of warehouses.
NCDEX got SEBI’s in-principle approval in July 2025 to start equity and derivatives trading, plans to raise INR 500–750 crore, and targets an August 2026 launch.
Read Also: Hero FinCorp Unlisted Share Price
Table of Contents
Products & Services of the NCDEX
- Agri Derivatives: NCDEX facilitates futures trading for commodities like cereals, oilseeds, pulses, spices, plantation crops, and cotton.
- Spot Market: E-platforms for farmers, agri-marketing, and procurement facilitation.
- Collateral Management & Warehousing: Accredited warehousing network, electronic negotiable warehouse receipts (eNWR), and quality assurance.
- Market Data & Analytics: Real-time pricing, volume, contract data, and analytics for trading members and corporates.
- Agri Financing & Advisory: Agricultural finance products, market access, and capacity-building partnerships for farmers.
Read Also: Vikram Solar Unlisted Share Price
NCDEX Subsidiaries
- NCDEX Institute of Commodity Markets and Research (NICR)
- National E-Repository Limited (NeRL)
- NCDEX Spot Exchange Limited (NSX)
- NCDEX e-Markets Limited (NeML)
NCDEX Share Price Latest News
NCDEXs unlisted shares surged 14.5% in a single day to INR 475, marking a 25% jump over the past month. The rally followed NCDEX’s INR 770 crore fundraise, with preferential allotment priced at INR 197.34 per share. The round saw strong participation from top domestic and global investors.
🏦 Domestic Investors in NCDEX
- Groww – INR 50 crore (2.82% stake)
- Zerodha – INR 17 crore (0.96% stake)
- Radhakishan Damani – INR 20.26 crore (1.41% stake)
- Ramesh Damani – INR 15 crore (0.85% stake)
- Madhusudhan Kela – INR 15 crore (0.85% stake)
- Sunil Singhania – INR 15 crore (0.85% stake)
🌍 Global & Institutional Investors in NCDEX
- Tower Research (US HFT firm) – INR 34 crore
- Citadel Securities (Kenneth Griffin’s firm) – INR 17 crore
- Kotak Mahindra Life Insurance – Amount undisclosed
- JM Financial – Amount undisclosed
- Acacia Partners – Amount undisclosed
The fresh capital will support NCDEX’s entry into equities and equity derivatives, for which it has already received in-principle approval from SEBI. The exchange plans to launch its equity cash segment by 2026, eventually expanding into derivatives, putting it in direct competition with the Metropolitan Stock Exchange (MSE).
Key Highlights
- Plans are underway to launch a new equity and equity derivatives platform in FY26, with a proposed fundraise of INR 750 crore.
- Q4 FY25 reflected a 5% YoY decline in revenue, but substantial exceptional gains from asset sales resulted in a consolidated net profit of INR 234 crore.
- NCDEX’s revenue from operations has been falling year-over-year, from INR 95.73 crores in FY 2024 to INR 88.19 crores in FY 2025. This drop is mainly due to reduced commodity volumes, regulatory changes, and the suspension of key traded commodities.
- The suspension of major commodities such as pulses and spices, which together accounted for about 70% of the exchange’s trading volumes, severely hurt profitability and led to a decline in deposits and deliveries.
- In FY 2023–24, NCDEX introduced four new products to strengthen its business and attract a wider range of market participants. These were: Isabgol Seed Futures, Groundnut Futures, Crude Sunflower Oil Futures, and Jeera Mini Futures.
Read Also: CSK Unlisted Share Price
NCDEX Board of Directors
- Mr. Arun Raste, Managing Director & CEO
- Mr. Ashish Bahuguna, Chairman and Public Interest Director
- Mr. Sanjeev Rohilla, Non-Independent Director
- Mr. R. Doraiswamy, Non-Independent Director
- Mr. Soma Sankara Prasad, Public Interest Director
- Mr. R. Amalorpavanathan, Public Interest Director
- Dr. Mukulita Vijayawargiya, Public Interest Director
- Mr. Hemant Adarkar, Public Interest Director
NCDEX Unlisted Share Price Details
| Name | NCDEX Unlisted Share Price Details |
| Face Value | INR 10 per share |
| ISIN Code | INE127G01010 |
| Lot Size | 100 shares |
| Demat Status | NSDL, CDSL |
| NCDEX Share Price Today | INR 475 per share |
| Market Cap | INR 2,407 crores |
| Total Number of Shares | 5,06,76,000 shares |
| Website | www.ncdex.com |
Recent price movement:
Between May and August 2025, NCDEX’s unlisted share price jumped by 26%, driven by major earnings updates and expectations of expansion into the equity segment. There is significant investor buzz in the grey market.
Read Also: Lakeshore Hospital Unlisted Share Price
NCDEX Unlisted Share Price – Shareholding Pattern
Details of shareholders holding more than 5% share in the Exchange:
| Shareholder Name | % to Holding | No. of shares |
| Corporates | 34.06 | 1,72,61,006 |
| Banks | 13.32 | 67,49,965 |
| Venture Capital | 13.25 | 67,14,570 |
| Insurance Companies | 11.10 | 5,625,000 |
| Financial Institutions | 11.10 | 5,625,000 |
| Any Other (specify) – (Co-Operative Society) | 10.00 | 50,68,000 |
NCDEX Unlisted Share Price – Financial Metrics
| Particulars | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
| Revenue | 115.33 | 103.93 | 95.73 | 88.19 |
| Revenue Growth (%) | 2.25 | (9.88) | (7.89) | (7.88) |
| Expenses | 176.89 | 196.24 | 187.16 | 197.01 |
| Net income | (12.26) | (42.37) | (27.70) | 236.09 |
| Margin (%) | (10.63) | (40.77) | (28.94) | 267.71 |
| ROCE (%) | (4.2) | (15.8) | (2.5) | – |
| ROE (%) | (3.3) | (11.6) | (1.0) | – |
| EBITDA (%) | (30.43) | (63.46) | (67.71) | (94.32) |
| EPS | (2.24) | (8.01) | (5.14) | 46.86 |
Read Also: Apollo Green Energy Unlisted Share Price
NCDEX Share Price Unlisted – Peer Comparison
| Company | 3-yr Sales CAGR (%) | PE Ratio | Net Margin (%) | MCap (INR Cr.) |
| NCDEX | 8.56 | 10.14 | 267.71 | 2,407 |
| MCX | 44.8 | 60.3 | 50.31 | 39,339 |
NCDEX Annual Reports
NCDEX Annual Report FY 2023 – 2024
NCDEX Annual Report FY 2022 – 2023
NCDEX Annual Report FY 2021 – 2022
NCDEX Unlisted Share Price Pros and Cons
| Category | Details |
|---|---|
| Pros | • First-mover advantage in agricultural commodity derivatives trading. • Advanced Tier-IV technology platform ensures secure and efficient transactions. • Strong backing from institutions like LIC, NABARD, NSE, and IFFCO. |
| Cons | • Revenue declined from INR 115.33 Crores in 2022 to INR 88.19 crores in 2025. • Heavy dependence on agricultural commodities, sensitive to weather and policy changes. • Suspension of key commodities caused a major drop in trading volumes. |
NCDEX Unlisted Share Price FAQs
Is it safe to purchase unlisted shares in India?
While there are risks associated with unlisted shares, purchases made from credible brokers and after conducting due diligence considerably lower these risks.
What is the NCDEX unlisted share price?
NCDEX unlisted share price today is INR 475 per share. Shares are purchased in lots of 100 shares.
Who determines the NCDEX share price?
Unlisted share price is determined by various factors, including recent transaction price, supply and demand, valuation in the latest funding round, profitability, and return ratios.
When is the NCDEX IPO planned?
The Board is finalizing readiness, and the IPO is anticipated in FY26, subject to regulatory approval.
A long term bet. Guess one can have a look at it around 400 levels