* Ratio is calculated based on latest financial & current share price.
(All Amount in INR Millions)
(All Amount in INR Millions)
(All Amount in INR Millions)
Established in 2008, the Metropolitan Stock Exchange of India (MSEI) works as an electronic trading platform for the financial market, futures trading, forex, and corporate bond segments. The company offers products like equity funds, currency derivatives, interest rate derivatives, and initial public offerings. SEBI has also given MSEI preliminary approval to operate an SME (Small & Medium Enterprises) trading platform. The company runs extensive investor awareness and education campaigns. MSEI also performs trade clearing and settlement operations. The company has its registered office in Mumbai, Maharashtra.
The core of MSEI business model is its hi-tech electronic trading platform. The exchange focuses on fast, safe, and transparent trade execution with the infrastructure that places a strong focus on fault tolerance, real-time data replication, and cybersecurity functionality. This preoccupation with technology makes sure that traders, customers, and banks, among other players in the market, can trade easily and without any fear.
MSEI has a wide environment, such as those of stockbrokers, banks, corporates, depositories, custodians, and also retail and institutional investors. Besides enabling trading, the exchange is also involved in promoting financial literacy and investor education in India, which is part of the heightened role of SEBI and financial inclusion. This undertaking makes MSEI not only a trading ground but also plays a part in the creation of a more informed investor base in the country.
MCX-SX KRA: It is a wholly-owned subsidiary company undertaking the business of KYC (Know Your Customer) Registration Agency and other SEBI-regulated allied activities.
Metropolitan Clearing Corporation of India Limited (MCCIL): It has an agreement with Indian Commodity Exchange Limited (ICEX) to offer clearance and settlement services for trade on the stock exchange.
Metropolitan Stock Exchange is not listed in major stock exchanges like BSE (Bombay Stock Exchange) or NSE (National Stock Exchange). However, Metropolitan Stock Exchange unlisted shares are traded in the grey market via an off-market mode or over-the-counter. For the last few years, the msei share price has fluctuated between Rs. 1 and Rs. 2 per equity share. But things change from Nov 24.
Till Nov 24, msei unlisted share price was trading around Rs 2 per share. In December 24, MSEI raised Rs 238 crore from investors like Billionbrains Garage Ventures, the promoter entity of Groww; Rainmatter Investments of Kamath brothers of Zerodha, Securicorp Securities India, and Share India Securities. This led to the metropolitan stock exchange share price peaking at Rs 13 per share in December 24.
Even after the funding, investors looked doubtful of the long-term growth and revival of MSEI, making the msei unlisted share price reduced to trading between a range of Rs 7-8 per share. The board of directors are trying to revive MSEI and has raised a fresh funding round of Rs 1,000 crore. However, investors don’t see the revival plans being implemented, which reduced the metropolitan share price to Rs 6 per share.
The latest metropolitan stock exchange share price today is Rs 5.89 per share.
Since January 25, metropolitan stock exchange share price unlisted has declined. Throughout FY 24 , the share was trading only around 1-2 per share. By December 24, the share saw a sudden jump and rose to Rs 13.
Currently, msei share price is trading around Rs 5.89.
| Particulars (In Rs Crores) | 31st March 2023 | 31st March 2024 | 31st March 2025 |
| Revenue | 9 | 7 | 4.3 |
| EBITDA | (49) | (54) | (41.7) |
| PAT | (18.7) | (49) | (34) |
| EPS | -0.04 | -0.1 | -0.06 |
MSEI’s revenue has halved in the last 3 years. In FY 23, MSEI generated Rs 9 crore, which reduced to Rs 4.3 crore in FY 25. This is reflected in the plateaued growth in msei share price (except investment news)
PAT and EPS followed the same trend. In fact, PAT loss almost doubled in the last 3 years from Rs 18.7 crore loss in FY 23 to Rs 34 crore loss in FY 25. EPS followed the same pattern of a negative 0.04 per share in FY 23 to a negative 0.06 per share in FY 25. If we look at just the MSEI financials, they don’t reflect positive prospects for msei unlisted share price.
MSEI has recently raised Rs 1,000 crore. With that funding, MSEI has different possibilities to revive its business.
This can be done in the following ways:
MSEI IPO was expected in May 25, but got deferred due to unknown reasons, probably due to the continued declining performance affecting the MSEI valuation. The exchange has not yet filed the DRHP to SEBI.
As of 2025, the Metropolitan Stock Exchange of India (MSEI) has a market capitalisation of approximately Rs 3,856 Crore
The current price of an unlisted Metropolitan Stock Exchange equity share is ₹ 5.89 Per Equity Share.
Mеtrороltаn stock exchange of India wаnts tо launch its initial publiс оffеring in thе nеxt twо уеаrs, fоllоwng thе fооtstерs оf lаrgеr рееrs, the exchange expects to become profitable in the next two years and to go public. So, it’s an opportunity for retail investors to seek good returns against their investment in the Metropolitan Stock Exchange’s unlisted shares.
As of 2024, the Metropolitan Stock Exchange of India (MSEI) has a market capitalisation of approximately Rs 889.89 Crore (about $69 million).
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This website is strictly for informational and educational purposes only. As per SEBI regulations, trading of unlisted shares is not permitted on online portals, and this site does not function as a trading or broking platform in any capacity. Users are advised to conduct their due diligence and consult with a SEBI-registered intermediary before making any investment decisions. The information presented here should not be construed as investment advice or a recommendation. Stockify Fintech is a shareholder of many private unlisted companies, and we deal in buying/selling unlisted shares via the offline process. This is strictly a private deal between the two consenting parties.
