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Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) logo
UNLISTED COMPANY PROFILE

FUSION TECHSTACK LIMITED (FORMERLY KNOWN AS INDIAN COMMODITY EXCHANGE LIMITED)

FINANCIALS LINE
INDICATIVE PRICE / SHARE
₹3.75
▲ +44.2% · 30-DAY
OTC REFERENCE PRICE · NOT AN OFFER TO DEAL
PRICE AS OF 02 SEPT 2026
VIEW DATA METHOD →
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INDICATIVE PRICE HISTORY · DATED OBSERVATIONS SINCE 2021

PRICE HISTORY.

Use the left and right arrow keys to inspect dated observations. Home selects the first observation and End selects the latest.

₹10
₹2.6
11 Sept 2102 Aug 2602 Sept 26

ALL-TIME LOW
₹2.6
ALL-TIME HIGH
₹10
WINDOW
ALL
NOT A STOCK-EXCHANGE QUOTE · NOT AN OFFER TO DEAL
THE TIMETABLE · KEY NUMBERS

Key numbers

Published fundamentals and the date each figure was recorded.

CALCULATION METHOD →
Market cap
₹139 Cr
Latest available company data
Min. investment
₹10,013
Indicative price × lot size
Lot size
2,670
P/E ratio
130
P/B ratio
2.84
EPS
0.02
ROE
2.29%
Book value
₹1.32
Face value
₹5
ISIN
INE678L01012
Company security identifier

About this company

Fusion Techstack Limited, formerly known as Indian Commodity Exchange Limited (ICEX), is a Gujarat-based company incorporated in 2008 and headquartered in Surat. It began life as a national-level, SEBI-recognised online commodity derivatives exchange, becoming one of India's organised platforms for trading commodity futures. Over its operating years it built a notable presence in niche contracts, launching diamond derivatives in 2017 and steel futures in 2018, and broadened its product suite to a range of commodity derivative contracts following a consolidation with the National Multi Commodity Exchange (NMCE) in 2018. The exchange business faced a significant turning point when its net worth fell below the regulatory threshold prescribed for operating a commodity exchange, and its exchange recognition was cancelled in May 2022. Following this, the company moved away from running a trading venue. In 2025 it adopted the new name Fusion Techstack Limited, reflecting a stated pivot toward technology-oriented activities such as technology-enabled platforms, data management services, and digital solutions linked to capital markets and allied areas. The company is structured with a face value of ₹5 per share and has a large equity base of roughly 533 million shares outstanding, giving it an indicative market capitalisation in the region of ₹139–143 crore based on prevailing unlisted quotes. It carries an established corporate identity (CIN U67120GJ2008PLC099142, ISIN INE678L01012) and a recognisable legacy brand in the Indian exchange ecosystem. Fusion Techstack draws attention in the unlisted market largely because of this legacy as a former national commodity exchange combined with its ongoing transition to a new technology-focused mandate. Its history within India's market-infrastructure landscape, its sizeable shareholder base from the ICEX era, and the uncertainty and curiosity surrounding its reinvention make it a frequently tracked name among participants who follow unlisted and transition-stage companies. All references to price are indicative secondary-market data and not a valuation.

COMPANY AT A GLANCE
Sector lineFinancials
SettlementNSDL / CDSL
Incorporated2008
Listing statusUnlisted / Pre-IPO
*INDICATIVE · TIMELINE MAY CHANGE · NOTHING FINAL UNTIL THE RHP

COMPANY REGISTRY · ON FILE

PUBLIC OR ADMIN-SUPPLIED DATA · VERIFY INDEPENDENTLY
CIN
U67120GJ2008PLC099142
PAN
AABCI9479D
Incorporated
2008
Outstanding shares
53,35,07,476 (533,507,476)
Registered office
Office No. 1002, 21st Century Business Centre, Upper Ground Floor, Surat Ring Road, Surat, Gujarat-395007, India
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THE LOGBOOK · FINANCIALS BY YEAR

WHAT THE ENGINE HAS DONE.

AMOUNT UNIT NOT VERIFIEDFY20FY21FY22FY23FY24FY25
REVENUE3231001202411
PAT-4,232-2,600-2,200-5,830292110
EPS (₹)-0-0-100
PAT MARGIN-1,310%-2,600%-1,833%-24,292%29,200%11,000%
CAUTION · AMOUNT UNIT AND FIELD-LEVEL SOURCES HAVE NOT BEEN VERIFIED · DO NOT RELY ON THESE FIGURES WITHOUT CHECKING THE COMPANY FILING

THE CREW · BOARD & MANAGEMENT

Sushil Kumar Agarwal
Director
Tridib Swain
Chief Executive Officer
Ranjit Samantaray
Key Management Personnel
Vaishali Vishwas Kale
Company Secretary
COMPANY TIMELINE · EVENTS
SEBI issued an Exit Order confirming the company’s exit as a commodity derivatives exchange. (10 Dec 2024)
READ THE NOTICE →
Shareholders approved alteration of the Memorandum and Articles and the change of name from Indian Commodity Exchange Limited to Fusion Techstack Limited through postal-ballot special resolutions. (10 Jul 2025)
READ THE NOTICE →
MCA approved the company’s name change to Fusion Techstack Limited. (9 Sep 2025)
READ THE NOTICE →
THE GLOVEBOX · ANNUAL REPORTS
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NON-BINDING · NO PAYMENT · NOT AN OFFER TO DEAL
RESEARCH DESK · QUESTIONS

COMMON QUESTIONS.

Is Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) listed on the stock exchange?+

No. As of 2 September 2026, Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) is an unlisted company whose shares trade over-the-counter; it would list only if and when it completes an IPO.

What is the Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) unlisted share price?+

As of 2 September 2026, the indicative unlisted share price of Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) is ₹3.75 per share. This is an over-the-counter reference price, not a stock-exchange quote.

What indicative minimum amount is displayed for Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) unlisted shares?+

The displayed unit count is 2,670 share(s); at the indicative price of about ₹3.75, the displayed amount is approximately ₹10,013. This is a display convention, not evidence of inventory, an order minimum or a quote.

What is the ISIN of Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited)?+

The recorded ISIN of Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) is INE678L01012. An ISIN is a 12-character security identifier. Verify it against the issuer and the relevant depository record before using it for any transfer or documentation.

Is trading in Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) unlisted shares legal in India?+

Unlisted shares can be transferred off-market in India, but the legal, tax and compliance position depends on the security, parties, documents and current rules. Verify the intermediary, issuer restrictions and applicable requirements before proceeding.

Is there a lock-in period for unlisted shares?+

A post-listing lock-in may apply under the rules in force at the time. The period and any exemptions can depend on the holder and acquisition, so check the current regulation and the issuer's offer documents rather than relying on a generic period.

Do you guarantee returns?+

No. Unlisted shares carry higher risk and lower liquidity than listed shares. Returns depend on company performance, market conditions and future listing outcomes. This is information only, not investment advice.

SIMILAR COMPANY PROFILES
FINANCIALS LINE.
Prices shown are indicative over-the-counter reference prices, not an offer to deal. This page is information only and not investment advice. Unlisted shares carry higher risk and lower liquidity than listed shares. Settlement to your own demat account via NSDL / CDSL through registered intermediaries.
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