Bank of India, which held 5.25 lakh shares, or 1.03 per cent, in MCX as of the June quarter, offloaded its entire stake in the commodity exchange, according to information available with the bourses.
The shares were sold at an average price of Rs 392.6, valuing the transaction at Rs 20.61 crore, the data showed. The buyers of the shares could not immediately be ascertained.
MCX shares surged 5 per cent to close at Rs 391.55 on the BSE today.
Last week, MCX Chairman Venkat Chary and five other directors of the commodity exchange resigned following implementation of new guidelines, including a bar on persons over 70 years of age holding board positions.
The development came on the heels of group company National Spot Exchange Ltd (NSEL) defaulting on the second payout for settling Rs 5,600 crore of dues after suspending trade on July 31 following the government's directions.