Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited)

Fusion Techstack Limited is the former Indian Commodity Exchange Limited (ICEX). The company exited its recognized commodity derivatives exchange business following SEBI's Exit Order in December 2024 and subsequently changed its name to Fusion Techstack Limited to pursue new business activities in technology, data services and allied areas.

Fusion Techstack Limited was formerly known as Indian Commodity Exchange Limited, commonly referred to as ICEX. The name was officially changed to Fusion Techstack Limited after shareholder approval and Ministry of Corporate Affairs approval in September 2025.

No. Fusion Techstack Limited is no longer a recognized commodity derivatives exchange. The company voluntarily surrendered its recognition, and SEBI issued an Exit Order on December 10, 2024. The company ceased functioning as an exchange from FY2024-25.

The company is repositioning itself toward technology, data services and allied business activities. Investors researching the Fusion Techstack business should therefore distinguish its historical commodity-exchange operations from its new strategic direction.

The reference page lists a lot size of 10,000 Fusion Techstack shares. At an indicative price of ₹4.75 per share, one reference lot would have a notional value of approximately ₹47,500 before applicable transaction costs and taxes.

The ISIN of Fusion Techstack Limited is INE678L01012. Investors can use this ISIN when verifying the security and completing the relevant demat-related process.

Fusion Techstack Limited is currently an unlisted company. Therefore, Fusion Techstack shares do not trade like a normal NSE- or BSE-listed equity, and available prices in the unlisted market are indicative rather than continuous exchange quotes.

The company changed its name because it was transitioning away from its former commodity-exchange business and intended to pursue technology, data services and allied activities. The name change was approved by the Ministry of Corporate Affairs on September 9, 2025.

There is currently no confirmed IPO timeline that should be treated as definitive. Searches for “Fusion Techstack IPO” should therefore be interpreted cautiously. Any future IPO or listing would require the relevant corporate decisions, regulatory processes and approvals.

Key risks include business-transition risk, liquidity risk, valuation risk and uncertainty regarding future business performance. The absence of operating revenue in FY25 is also an important factor for investors assessing the company's future earnings potential.

Investors interested in buying Fusion Techstack unlisted shares through Dhankirti can enquire about the latest indicative price, availability and applicable transaction process. Availability can vary, so the latest details should be confirmed before placing a transaction request.

The potential growth story is linked primarily to the company's ability to successfully transition into technology, data services and allied business areas. Investors should look for evidence of new operating revenue, business partnerships, scalable offerings and sustainable profitability before assigning long-term growth expectations.