PTC India Limited has approved the incorporation of a wholly owned subsidiary, structured as a special purpose vehicle (SPV), to establish and operate a Mineral Exchange in India under the Mineral Exchange Rules, 2026.
The Board of Directors approved the proposal at its meeting held on 26 October 2026. The proposed subsidiary will facilitate delivery-based electronic trading in permitted minerals and related areas, supporting market-based transactions, transparent price discovery and delivery-based supply contracts.
PTC India Seeks Extension for IBM Registration
The Indian Bureau of Mines (IBM) has invited applications from companies seeking to establish and operate a Mineral Exchange. The submission deadline was 2 November 2026, and PTC India has applied for an extension of time.
The incorporation of the proposed subsidiary remains subject to IBM granting the extension.
Board Approves Equity Investment of Up to ₹65 Crore
The Board has also approved an equity investment of up to ₹65 crore in the proposed subsidiary. The initial subscription will amount to ₹10 crore for 1 crore equity shares with a face value of ₹10 each, issued at par.
The total investment commitment may be infused in one or more tranches. PTC India will hold 100% of the subsidiary’s shareholding at the time of incorporation.
Following incorporation, the SPV will apply to IBM for a Certificate of Registration, subject to fulfilling the prescribed conditions and obtaining approval from the Central Government.
