Metropolitan Stock Exchange of India Ltd
- Unlisted share
- Capital Markets
- ISIN INE312K01010
At a glance
Sales
FY26
₹3.38 Cr
−21.6%on FY25What the company earned from its customers in the year.
Loss for the year
FY26
₹-25.84 Cr
The company spent more than it earned in the year.
Market valuecalculated
₹3,960 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹1,369 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Metropolitan Stock Exchange of India Ltd
- ISIN
- INE312K01010
- Sector
- Capital Markets
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹6.60
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Metropolitan Stock Exchange of India Ltd
Metropolitan Stock Exchange of India (MSE) is a SEBI-recognised stock exchange based in Mumbai; it describes its single business segment as running a stock exchange and related activities in India. It has no single parent: in January 2025 it placed shares with investors including Billionbrains Garage Ventures, Rainmatter Investments, Securocrop Securities India and Share India Securities, and in August 2025 it allotted a further 500 crore shares to a wide group of brokers and funds including Peak XV Partners. The exchange earns very little from operations and has been loss-making, with most of its income coming from other income.
Written from: storage.mseindia.com, storage.mseindia.com
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Capital Markets
- ISIN
- INE312K01010
- Year of incorporation
- 2008
- Registered office
- Mumbai, Maharashtra
- Key people
- MD & CEO: Latika S Kundu (reappointed for 3 years from 11 February 2025)
- MSE audited consolidated financial results, year ended 31 March 2026
- Permanent employees
- 114 people
- Equity shares
- 6,00,02,17,033 shares
- CIN
- U65999MH2008PLC185856
- Official website
- mseindia.com
Read from: MSE annual report 2024-25, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to book (P/B)calculated
2.89×
At this price you pay ₹2.89 for every ₹1 of net worth on the company's books.
Profit margincalculated
-764.5%
For every ₹100 of sales, the company lost ₹764.5.
Return on equitycalculated
-1.9%
For every ₹100 of the owners' money, the company lost ₹1.9 in the year.
- Indicative price
- ₹6.60
- Market valuecalculated
- ₹3,960 Cr
- price × shares
- No. of shares
- 6,00,02,17,033
- EPS
- ₹-0.02
- Book value per share
- ₹2.28
- Face value
- ₹1
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
Metropolitan Stock Exchange of India Limited. As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY24 to FY26: ₹7.36 Cr to ₹3.38 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY24 to FY26: ₹-48.74 Cr to ₹-25.84 Cr.
| Particulars | FY24 | FY25 | FY26Latest |
|---|---|---|---|
| Revenue from operations | 7.36 | 4.31 | 3.38▼22% |
| Other income | 13.69 | 13.07 | 55.69▲326% |
| Total income | 21.05 | 17.38 | 59.07▲240% |
| Depreciation and amortisation (including right-of-use assets) | 6.06 | 5.1 | 12.56▲146% |
| Finance costs | 0.98 | 0.26 | 0.68▲162% |
| Loss before tax | -47.59 | -34.85 | -25.84▲26% |
| Loss for the year | -48.74 | -34.22 | -25.84▲24% |
| Basic earnings per share (₹) | -0.1 | -0.06 | -0.02▲67% |
Rupees crore unless marked, consolidated. The change shown is the latest year against the year before. Read from: MSE annual report 2024-25, MSE audited consolidated financial results FY2025-26.
Ownership
Shareholding pattern
Who owns the company
As of 31 March 2025
45.0%Individuals
- Largest holder
- 45.0%
- Top 3 together
- 92.2%
- Holders named
- 7
- Individuals45.01%
- Bodies corporate35.17%
- Financial institutions / banks11.99%
- Non-resident Indians4.19%
- HUF3.52%
- Trusts0.12%
- Promoter and promoter group0.00%
- Total100.00%
Read from: MSE annual report 2024-25
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| 13 Aug 2025500 crore shares allotted at ₹2 each (₹1 face value plus ₹1 premium) to venture funds, brokers and family offices including Peak XV Partners; the FY2025-26 cash flow statement shows ₹997.97 crore received from issue of equity including premium. | Private placement | Equity shares of ₹1 each | ₹2 | ₹998 Cr |
| 22 Jan 2025119 crore shares placed at ₹2 each (₹1 face value plus ₹1 premium) with Billionbrains Garage Ventures, Rainmatter Investments, Securocrop Securities India and Share India Securities; the FY2024-25 cash flow statement shows ₹238 crore received from the issue. | Private placement | Equity shares of ₹1 each | ₹2 | ₹238 Cr |
Read from: MSE audited consolidated financial results FY2025-26
Leadership
Management
Dinesh C Patwari
Chairman & Public Interest Director
Latika S. Kundu
Managing Director & CEO
Saket Bhansali
Chief Financial Officer
Durgesh Kadam
Company Secretary
Ashok Kumar Dogra
Public Interest Director
Rakesh Kumar Srivastava
Public Interest Director
Manoj Kunkalienkar
Non-Independent Director
Read from: MSE annual report 2024-25
Corporate calendar
Events
- 13 Aug 2025Allotment500 crore equity shares allotted on private placementOpen
- 7 Aug 2025EGMShareholders approved the 500 crore share private placement and the reappointment of the MD & CEOOpen
- 8 Jul 2025Board decisionBoard approved a higher authorised capital and issue of up to 500 crore equity shares at ₹2 eachOpen
- 18 Jan 2025EGMShareholders approved the 119 crore share private placementOpen
- 24 Dec 2024Board decisionBoard approved issue of up to 119 crore equity shares at ₹2 each by private placementOpen
- 11 Jun 2024MergerMerger of subsidiary MSE Enterprises Limited (former clearing corporation) into the exchange became effective after NCLT approval dated 6 June 2024Open
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Metropolitan Stock Exchange of India Ltd on WhatsAppIs the price shown for Metropolitan Stock Exchange of India Ltd final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Metropolitan Stock Exchange of India Ltd shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Metropolitan Stock Exchange of India Ltd shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by Metropolitan Stock Exchange of India Ltd. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.