Indian Agriculture Bourse Gets Prelim Nod for Equity Derivatives

The National Commodity and Derivatives Exchange Ltd., an Indian online bourse for trading agricultural products, won a preliminary nod for trading in equity-related products including derivatives, according to people familiar with the matter.

The company also plans to raise about 6 billion rupees ($68.5 million) to fund its expansion into the new segment, the people said, asking not to be identified as the information isn’t public.

NCDEX’s push into equities will pit it against the country’s two dominant exchanges — the National Stock Exchange of India and publicly-traded rival BSE Ltd. The move also comes as India’s equity derivatives ...