Date: 26th October, 2026
Board Meeting Outcomes
The Board of Directors meeting was held on 26th October 2026, commencing at 12:15 p.m. and concluding at 12:58 p.m. The Board considered and approved:
- Incorporation of a wholly owned subsidiary company (Special Purpose Vehicle) with PTC India Limited as the promoter
- Establishment and operation of a Mineral Exchange in India under the Mineral Exchange Rules, 2026
- Equity investment of up to ₹65 crores in the proposed subsidiary
- The approval is subject to receipt of time extension from Indian Bureau of Mines (IBM)
Subsidiary Details
Name: As approved by Registrar of Companies (to be determined)
Date of Incorporation: Yet to be incorporated
Country of Incorporation: India
Holding Company: PTC India Limited (100% ownership at incorporation)
Industry: Mineral Exchange (electronic platform for delivery-based trading of minerals)
Business Purpose: To establish, obtain registration for and operate a Mineral Exchange in India under the Mineral Exchange Rules, 2026, for market-based trading, transparent price discovery and delivery-based supply contracts in the allowed minerals.
Investment Details
Nature of Consideration: 100% subscription to the initial paid-up share capital in cash
Initial Subscription: ₹10,00,00,000/- (Rupees ten crore) towards 1,00,00,000 equity shares of ₹10 each at par
Overall Equity Commitment: Up to ₹65 crore, to be invested in one or more tranches
Shareholding: 100% ownership by PTC India Limited at the time of incorporation
Regulatory Approvals
Current Status: The designated regulatory authority Indian Bureau of Mines (IBM) has invited applications for registration of companies to establish and operate a Mineral Exchange in India with last date for submission as 2nd November 2026. The Company has applied for extension of time for submission of the application.
Future Requirements: After incorporation of SPV, application will be submitted to Indian Bureau of Mines, which will issue the Certificate of Registration subject to fulfilment of prescribed conditions and approval of the Central Government.
Compliance Information
Regulatory Reference: Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")
Master Circular Reference: SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026