The Multi Commodity Exchange of India has received regulatory approval from the Securities and Exchange Board of India for a public listing, The Wall Street Journal reports. Through the initial public offering (IPO), some shareholders of the exchange, intend to offload about 6.4 million shares, representing 12.6 percent of the company’s paid-up equity capital.

Financial Technologies (India) is seeking to decrease its stake from 31 percent to 26 percent through the proposed IPO. Other shareholders looking to shed their holding in the exchange include State Bank of India, GLG Financials Fund, Alexandra Mauritius and Corporation Bank.

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