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MSE Unlisted Shares offer early-stage investment opportunities in high-growth companies, diversification, and pre-IPO gains. Key risks include liquidity, valuation, and limited data. Conduct due diligence!
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PREPARED BY ALTIUS INVESTECH PREPARED BY ALTIUS INVESTECH
MSEI TABLE OF CONTENTS Company Overview Management Team Industry Overview Product Portfolio Subsidiaries Financial Highlights Revenue Split Funding Peer comparison MSEI Revival
MSEI COMPANY OVERVIEW Recognized national-level stock exchange in India licensed by SEBI. Provides an advanced electronic trading platform for: Currency Derivatives Interest Rate Derivatives Equity Cash and Equity Derivatives segments. Equipped with scalable, high-capacity trading technology. Key Features Diversified ownership among corporates, banks, and individuals. Live trading in Currency Futures and Options for USD/INR, GBP/INR, EUR/INR, JPY/INR, and cross-currency pairs like EUR/USD, USD/JPY, GBP/USD. Interest Rate Futures trading available for 6 Government Bonds (maturity: 6, 10, 13 years).
MSEI MANAGEMENT TEAM Ms. Latika S. Kundu Managing Director & CEO Mr. Dinesh C Patwari Chairman & Public Interest Director
MSEI INDUSTRY OVERVIEW Indian IPO Activity: India emerged as a global hub for IPOs in FY 2023-24, with proceeds totaling $7.89 billion. The number of IPOs reached 234, marking a 56% increase compared to 2022, the highest since 2017. India’s Equity Market: India’s market cap crossed $5 trillion, becoming the fourth-largest globally. Foreign Capital Inflows: Increased due to diversification from China, with India’s stock market showing steady growth. Global Economic Outlook: Projections for global growth stand at 3.1% by 2029, driven by shifts in emerging markets and technological integration.
MSEI PRODUCT & SERVICES Upcoming Products & Services Segment Products SME Platform Book Building System Offer to Buy Mutual Fund System Currency Futures, Currency Options, Cross Currency Futures, Cross Currency Options, Interest Rate Futures Currency Derivatives Equity Shares, Sovereign Gold Bonds, Exchange Traded Funds (ETFs), Offer for Sale Equity Capital Market Key Highlights Cutting-edge technology ensuring reliability and performance Supporting digital transformation with innovation and intelligence solutions Focused on expanding market share while diversifying product offerings Equity Derivatives Stock Futures, Stock Options, Index Futures, Index Options SX40: Large-cap diversified index; SXBANK: Banking sector-focused index Index
MSEI SUBSIDIARIES MSE FINTECH LIMITED % Shareholding 100% Share Capital (Rs. Cr) 5.00 Reserves & Surplus (Rs. Cr) (3.62) PAT (Rs. Cr) 0.13
MSEI FINANCIALS 10 0 Particulars (In Cr) FY24 FY23 -10 Revenue 7.3 9.2 -20 -30 EBITDA -54 -49 -40 PAT -49 -19 -50 -60 Revenue EBITDA PAT FY 2024 ( In Crores)
MSEI REVENUE OVERVIEW Listing Fees 13.5% Revenue Category (Rs. Cr) FY24 FY23 Processing Fees 6.5% Total Revenue 21.04 54.65 Operating Revenue 7.36 9.21 Transaction fees 3.74 3.50 Processing fees 0.81 0.86 Transaction Fees3.74 80.1% listing fees 1.68 1.71 other income 13.68 45.44
MSEI FUNDING Current Key Shareholders Radhakishan S Damani 7% In the recent funding round MSEI raised Rs. 238 Crores at a post money valuation of Rs. 1200 Cr from investors such as Billionbrains Garage Ventures: Parent company of Groww Rainmatter Investments: The investment arm of Zerodha’s founders Share India Securities SBI 8.5% MCX 29% IS&FL Financial 10.4% Given SEBI's new rule coupled with rising investments from top brokers, MSEI is driving investor optimism, reflected in a remarkable 12x increase in its price within a month, MSEI is positioning itself as a promising alternative with significant growth potential. Trust Investment 10.4% Siddharth Balachandran 20.8% Union Bank 13.9%
MSEI PEER COMPARISON Particulars MSEI NSE Revenue (Crore) 7.36 14780 PAT (Crore) -48.74 8305 MCap (Crore) 5393 476437 share price (As of Jan, 2025) 11.2 1925 P/E -112 57 P/B 28 20 P/S 280 29
MSEI MSEI’S REVIVAL: THE ROLE OF RECENT REGULATORY SHIFTS SEBI's Big Move SEBI’s new rule limits exchanges to just one weekly options expiry, cutting down on high- frequency trading opportunities, especially the popular Bank Nifty weekly expiry on the NSE. Traders who thrived on short-term strategies using this product are now searching for alternatives. MSEI: The New Playground With the NSE scaling back its offerings, MSEI is stepping up as a viable option for these traders. The exchange could soon roll out similar derivative products, attracting volumes from traders who are looking for high volatility and quick gains.
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