NCDEX Unlisted Share Price Drops 10.6% in October 2026: Financial Trend
· 6 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
National Commodity and Derivatives Exchange Ltd. (NCDEX) unlisted shares experienced a 10.6% decline over the past week, moving from ₹378.0 to ₹338.0 on 07 Oct 2026. Here is an overview of recent price trends, balance sheet updates, and corporate developments.
Direct answer: The indicative unlisted share price for National Commodity and Derivatives Exchange Ltd. (NCDEX) declined by 10.6% this week, moving from ₹378.0 on 30 Sep 2026 to ₹338.0 on 07 Oct 2026. Tracked by BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002, this shift reflects private over-the-counter liquidity and prevailing market sentiment.
Recent Price Movement: NCDEX Unlisted Share Decline
In the off-market segment, indicative valuations for National Commodity and Derivatives Exchange Ltd. (NCDEX) recorded a sharp downward movement over the past week. On 30 Sep 2026, the indicative price stood at ₹378.0 per share. By 07 Oct 2026, the price adjusted to ₹338.0 per share, marking a decline of 10.6% (-10.58%).
Per the price history, NCDEX unlisted shares reached a 90-day high of ₹428.0 on 14 Jul 2026 before declining to a low of ₹338.0 on 07 Oct 2026.
Because unlisted equity transactions take place through private over-the-counter trades between buyers and sellers rather than continuous order matching on a formal exchange floor, price adjustments in unlisted shares often occur in steps as trade blocks are executed.
Business Overview & Market Infrastructure Profile
Incorporated in 2003 and headquartered in Mumbai, Maharashtra, National Commodity and Derivatives Exchange Ltd. (NCDEX) on BuyUnlistedShares is a leading market-infrastructure institution regulated by the Securities and Exchange Board of India (SEBI). Effective September 2015, NCDEX was designated as a deemed recognised stock exchange under the Securities Contracts (Regulation) Act, 1956.
| Item | Value | As of |
|---|---|---|
| Indicative price | ₹338 | 8 Oct 2026 |
| Lot size | 67 shares | 8 Oct 2026 |
| Minimum investment | ₹25,326 | 8 Oct 2026 |
| Market cap | ₹3,211 Cr | 8 Oct 2026 |
| Face value | ₹10 | 8 Oct 2026 |
| Book value | ₹165.78 | 8 Oct 2026 |
| ISIN | INE127G01010 | 8 Oct 2026 |
| Sector | Financials | 8 Oct 2026 |
| Listing status | UNLISTED | 8 Oct 2026 |
NCDEX has historically maintained a core franchise in agricultural commodity derivatives, offering electronic trading platforms for futures and options contracts in key agri-commodities such as guar, cotton, chana, soybean, mustard seed, jeera, and various spices, along with select non-agricultural contracts. The exchange group supports the full trading lifecycle through clearing and settlement operations, warehousing infrastructure, and electronic spot trading repositories.
To expand beyond its commodity roots, NCDEX received in-principle regulatory approval from SEBI in July 2025 to enter the equity cash and equity derivatives segments. Subsequently, in December 2025, SEBI granted in-principle approval for NCDEX to launch a mutual fund transaction platform.
Recent Corporate Developments and Capital Structure
In August 2025, NCDEX expanded its capital base via a preferential allotment, raising over ₹770 crore from a diverse group of domestic and international institutional investors. Backers in the round included Citadel Securities, Tower Research, Groww, JM Financial, Kotak Life Insurance, and prominent individual investors such as Radhakishan Damani and Sunil Singhania. Following this equity expansion, total outstanding equity shares increased from 5,06,76,000 (~5.07 crore) to 8,96,94,972 (~8.97 crore) shares with a face value of ₹10 each.
As monitored by BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002, off-market valuations adjust periodically to reflect institutional capital raises, balance sheet restructuring, and long-term business diversification. Investors looking across the broader market infrastructure and unlisted landscape can evaluate opportunities using the Unlisted shares screener or review upcoming public offerings on the IPO calendar.
Financial Performance and Balance Sheet Overview
NCDEX's top-line revenue from operations has remained largely steady in recent years, while bottom-line results reflect both core operating costs and non-operating income events. For Q3 FY26 (quarter ended December 2025), NCDEX reported total income of ₹24.46 crore and operating revenue of ₹6.47 crore, with its quarterly net loss narrowing to ₹8.50 crore from ₹11.82 crore in Q2 FY26. The exchange noted a deployment of ₹3.41 crore during the quarter toward building out its equity segment infrastructure.
Per the recorded financial data, NCDEX's total revenue stood at ₹104 crore in FY23, while net profit spiked to ₹236 crore in FY25 due to asset sales before returning to a loss of ₹46 crore in FY26.
The net profit recorded in FY25 was driven primarily by one-off gains, including the divestment of NCDEX's stake in Power Exchange India Ltd (PXIL), whereas core operational revenues were ₹88 crore in FY25 and ₹90.4 crore in FY26.
Institutional Shareholding Pattern
NCDEX boasts an institutional shareholder base comprised of public financial institutions, state-owned banks, agricultural sector organisations, and private equity firms:
| Shareholder Category / Entity | Equity Stake (%) |
|---|---|
| National Stock Exchange of India (NSE) | 15.0% |
| Life Insurance Corporation of India (LIC) | 11.1% |
| NABARD | 11.1% |
| IFFCO | 10.0% |
| Oman India Joint Investment Fund (OIJIF) | 10.0% |
| Punjab National Bank | 7.3% |
| Canara Bank | 6.0% |
| Investcorp Private Equity Fund I | 5.0% |
| Build India Capital Advisors LLP | 5.0% |
| Others (Bodies Corporate, Public & Individuals) | 19.5% |
To understand how unlisted exchange platforms and infrastructure players compare with listed market reviews, readers can explore our coverage on Qualiance International IPO Review 2026: Business, Financials and Key Considerations as well as the Cochin International Airport (CIAL) Unlisted Share Price, Financials & Dividend Explainer.
To explore updated off-market valuations, historical price trends, and transaction mechanisms for NCDEX and other unlisted market infrastructure entities, visit BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002.
Frequently Asked Questions
What caused the 10.6% drop in NCDEX's unlisted share price?
The 10.6% drop from ₹378.0 to ₹338.0 between 30 Sep 2026 and 07 Oct 2026 reflects private over-the-counter transaction dynamics, changes in buyer-seller order matching, and off-market liquidity rather than a single specific corporate announcement.
Is NCDEX listed on the BSE or NSE mainboard?
No, NCDEX is currently an unlisted public limited company operating under SEBI regulation. Its shares do not trade on public stock exchange screens and are available only through private off-market transfers.
What are NCDEX's major financial metrics for FY25 and FY26?
In FY25, NCDEX reported revenue of ₹88 crore and a net profit of ₹236 crore, boosted by a one-time gain from selling its stake in PXIL. In FY26, revenue was ₹90.4 crore with a net loss of ₹46 crore.
Who are the prominent shareholders of NCDEX?
Major institutions include NSE (15.0%), LIC (11.1%), NABARD (11.1%), IFFCO (10.0%), Oman India Joint Investment Fund (10.0%), Punjab National Bank (7.3%), and Canara Bank (6.0%).
Should investors buy or sell NCDEX unlisted shares at current levels?
We do not make that call. BuyUnlistedShares provides factual information and market updates but does not offer investment advice, stock ratings, or buy/sell recommendations. Investors should evaluate their own risk tolerance and consult a registered financial advisor.
Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
