The Multi Commodity Exchange of India Limited (MCX), the nation’s largest commodity exchange, is set to expand its footprint into the energy sector following regulatory approval to establish a specialized coal exchange.
In a regulatory filing dated April 18, 2026, MCX announced that the Securities and Exchange Board of India (SEBI) has granted approval under the SECC Regulations for an investment in a proposed subsidiary, tentatively named MCX Coal Exchange Ltd. or MCX Coal Exchange of India Ltd.
The initiative aims to modernise India’s coal market by developing a regulated, technology-driven platform for the physical delivery of coal. MCX intends to leverage its expertise in governance, surveillance, and clearing mechanisms to create a transparent digital marketplace where coal can be traded at market-driven, fair prices. This move aligns with the broader vision of the Government of India to enhance the transparency and efficiency of the domestic coal ecosystem.
MCX will initially hold a 100% stake in the subsidiary, though it may seek additional partners in the future. The exchange plans to invest up to ₹100 Crore to meet minimum net worth requirements as stipulated by draft Coal Exchange Rules. Shares will be acquired at a par value of ₹10 per share.
While SEBI has approved the investment as of April 17, 2026, the company is yet to be formally incorporated. Following incorporation, MCX plans to submit a license application to the Coal Controller Organization of India as per prescribed guidelines.