Indian financial services company
SMC Global is a diversified financial services company headquartered in New Delhi, India. It offers services ranging from brokerage to investment banking. MIAC owns approximately 10.5% of the company and has an ongoing agreement to sell a portion of its holdings back to the controlling shareholders of SMC Global on a monthly basis until SMC Global completes a public offering and listing of its shares. SMC Global is currently pursuing an initial public offering in the United States. SMC Global is currently targeting completion of this offering by Q4 2017. There can be no assurances as to when or if this transaction will be completed or the enterprise value upon completion of the listing.