The National Stock Exchange of India (NSE) is pleased to announce its collaboration with Malca-Amit JK Logistics Private Limited for the creation and vaulting of Electronic Gold Receipts (EGRs). The partnership was formally marked today with a ceremonial bell-ringing to commemorate the commencement of EGR trading on NSE and the joint commitment of both institutions to building a robust EGR ecosystem in India.

Malca-Amit JK Logistics Private Limited currently operates an active vault in Ahmedabad and is in process of establishing operations in Mumbai, which is expected to commence shortly, at which investors and market participants will be able to create and extinguish EGRs. The vaulting network forms a critical part of the EGR value chain, ensuring secure storage of the underlying physical gold backing every Electronic Gold Receipt issued on the Exchange.

Commenting on the partnership, Mr. Sriram Krishnan, Chief Business Development Officer, NSE, said: “We are delighted to partner with Malca-Amit JK Logistics Private Limited on the Electronic Gold Receipts segment. A trusted, secure and well-distributed vaulting network is foundational to the integrity of the EGR ecosystem, and Malca-Amit JK Logistics Private Limited established footprint across the country positions it well to support the creation and extinguishment of EGRs at scale. EGRs represent a meaningful step in the financialisation of gold in India, offering investors a transparent, exchange-traded and standardised instrument backed by physical gold. We thank Malca-Amit JK Logistics Private Limited for their commitment and look forward to working closely with them as the segment grows.”

Commenting on the development, Mr. Gaurang Popat, Director, Malca-Amit JK Logistics Private Limited, said: “We are honoured to partner with NSE on the Electronic Gold Receipts segment, a landmark initiative for the Indian capital markets. Malca-Amit JK Logistics Private Limited has built its vaulting infrastructure over the years with a clear focus on security, transparency and operational rigour, and we are pleased to bring this network of vaults in support of EGR creation and extinguishment. We believe EGRs will play a defining role in the financialisation of gold in India, and Malca-Amit is committed to supporting NSE and the broader ecosystem in building scale and investor confidence in this product.”