Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) Unlisted Share Price
As of , the indicative unlisted share price of Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) is ₹2.60 per share. This is an over-the-counter reference price, not a stock-exchange quote.
As of , Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) is not listed on any Indian stock exchange (NSE or BSE) — its shares trade in the unlisted, over-the-counter (pre-IPO) market.
| Price / unit | ₹2.60 |
|---|---|
| Market cap | ₹139 Cr |
| Min. investment | ₹10,010 |
| Lot size | 3,850 |
| P/E ratio | 130 |
| P/B ratio | 1.97 |
What is Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited)?
Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) is an unlisted Financials company whose shares trade in India's over-the-counter (pre-IPO) market and settle in demat form (NSDL/CDSL).
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.
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Frequently asked questions
No. As of 16 July 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.
The minimum lot is 3,850 share(s); at the indicative price of about ₹2.60, that is approximately ₹10,010. Indicative reference, not a quote.
As of 16 July 2026, the indicative unlisted share price of Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) is ₹2.60 per share. This is an over-the-counter reference price, not a stock-exchange quote.
Fusion Techstack Limited, formerly Indian Commodity Exchange Limited (ICEX), was originally a SEBI-recognised online commodity derivatives exchange incorporated in Gujarat in 2008. After its exchange recognition was cancelled in 2022, the company was renamed Fusion Techstack Limited in 2025 and has stated a pivot toward technology-enabled platforms, data management and digital solutions for capital markets and allied areas.
No. Fusion Techstack Limited is not listed or trading on the NSE or BSE main board; its shares are currently traded in the unlisted (off-market) space. Unlisted shares are generally transacted privately through dealers or platforms that facilitate buyers and sellers, with shares credited to your demat account after settlement. This is general information, not advice; always complete your own due diligence and verify counterparties.
The indicative price reflects buy and sell interest in the private secondary market and can move with supply and demand, the company's financial position and net worth, developments around its name change and new business direction, available disclosures, and overall sentiment toward unlisted securities. Because there is no exchange order book, quotes vary across sources and are indicative only.
Reported reference details include incorporation in 2008, registered office in Surat, Gujarat, a face value of ₹5 per share, ISIN INE678L01012 and CIN U67120GJ2008PLC099142. The company has a large equity base of roughly 533 million shares outstanding, translating to an indicative market capitalisation in the ₹139–143 crore range based on prevailing unlisted quotes. Figures are drawn from secondary sources and should be independently verified.
They can. If the company declares a dividend, unlisted shareholders are eligible like any other shareholder. Many unlisted firms reinvest profits, so dividends are not guaranteed.
After listing, unlisted shares convert into regular listed shares in your demat account and can be traded on the exchange, usually once any applicable SEBI lock-in period ends.
Unlisted shares are less liquid than listed shares. You can sell when a buyer is available through an off-market transfer; there is no continuous exchange market, so exits can take longer.
Unlisted shares carry higher risk and lower liquidity than listed shares, with fewer disclosures and no live market price. This is general information, not investment advice — assess suitability before investing.
An unlisted share price is an indicative, over-the-counter reference set by demand and supply in private deals between buyers and sellers. There is no live exchange quote, so prices can vary across dealers and over time.
Yes. Unlisted shares are delivered in dematerialised form, so you need an active demat account (NSDL or CDSL). No special account type is required — a regular demat account works.
Unlisted shares are sold through an off-market transfer to a buyer via a registered intermediary, settling from your demat account with a contract note. Liquidity depends on buyer availability, so exits can take longer than listed shares.
Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited) vs similar unlisted Financials shares
Indicative over-the-counter prices, as of 16 July 2026. Information only — not a recommendation or ranking.