MUMBAI (Commodity Online): The Multi Commodity Exchange of India (MCX) has decided on the price band for its much awaited IPO. The price band for the MCX IPO has been set at Rs 860- Rs 1032 per share, possibly resulting in over Rs 660 crore being raised. The issue is slated for Feb 22- Feb 24, 2012.
About 64.27 lakh shares will be on offer with around 2.5 lakh being reserved for company employees. Morgan Stanley, Edelweiss and Citigroup will be the lead managers for the share sale. CRISIL has already assigned a 5/5 rating for the IPO on the back of its strong fundamentals.
With the share issue, MCX will thus become India's first exchange to get publicly listed. This could also be the first IPO of 2012.
MCX is the largest commodity bourse in India, commanding around 70% of the Rs 175 lakh crore Indian commodity derivatives market. The company is ranked number one silver futures exchange in the world and number two in gold, copper and natural gas, as per the MCX website.
