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Power trading solutions provider PTC India on Monday said its board has approved incorporation of a wholly-owned subsidiary with an investment of Rs 65 crore to set up and operate a mineral exchange in the country.
The company proposes setting up the Mineral Exchange through a subsidiary as per applicable laws and rules, which will offer delivery-based electronic trading in permitted minerals and other related areas, an exchange filing stated.
The designated regulatory authority, the Indian Bureau of Mines (IBM), has invited applications for registration of companies to establish and operate a Mineral Exchange in India and the last date for submission is November 2, 2026. However, the company has applied for the extension of time for submission of the application.
According to the filing, the Board of Directors of the company, at its meeting held on October 26, 2026, has, inter alia, considered and approved the incorporation of a wholly-owned subsidiary company (Special Purpose Vehicle), with PTC India Ltd as the promoter, for establishing and operating a Mineral Exchange in India under the Mineral Exchange Rules, 2026, subject to receipt of time extension from IBM.
Board approves investment of up to Rs 65 crore
The Board also approved equity investment of up to Rs 65 crores in the proposed subsidiary, it informed the exchanges.
After incorporation of SPV, the application will be submitted to the Indian Bureau of Mines, which will issue the Certificate of Registration subject to fulfilment of prescribed conditions and approval of the Central Government, it stated.
There will be a 100 per cent subscription to the initial paid-up share capital in cash.
There will be an initial subscription of Rs 10 crore towards one crore equity shares of Rs 10 each at par, the company said.
Published on October 26, 2026
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