IPO: MCX fixes price band at Rs 860 to Rs 1,032 per share
It would be the first exchange in India to go public, putting the country on par with other markets like US, UK, Japan, Australia, Singapore and Hong Kong.
By PTI | Updated:
MUMBAI: Multi Commodity Exchange ( MCX) on Thursday set a price band of Rs 860 to Rs 1,032 a share for its initial public offering, setting the stage for the first major issue to hit the volatile capital markets in 2012.
Shareholders of MCX are looking to raise up to Rs 663 crore through an offer for sale. The issue will hit the market on February 22 and close on February 24.
"This IPO will be a trend-setter for other commodity exchanges to follow. The listing will take MCX at par with other global exchanges that are listed such as NASDAQ, NYSE Euronext, ICE, CME Group, SGX," MCX vice-chairman Jignesh Shah told reporters at the roadshow here.
The offer would comprise sale of about 64.27 lakh shares of Rs 10 each, accounting for a 12.6 per cent stake.
Among the divesting shareholders, Financial Technologies (India) Limited is making offer of 26,43,916 equity shares (5.18 percent), State Bank of India 21,12,025 (4.14 percent), Corporation Bank 2,46,175 shares (0.48 percent), GLG Financials Fund 7,81,508 shares (1.53 percent), Bank of Baroda 1,05,000 shares (0.21 percent), Alexandra Mauritius Limited 3,90,754 shares (0.77 percent) and ICICI Lombard General Insurance Company Ltd 1,48,000 shares (0.29 percent).
The promoters FTIL currently holds 31.2 per cent stake in MCX, which would come down to about 26 per cent post-IPO.
MCX, the largest commodity bourse in the country, has more than 70 per cent share in an annual estimated turnover Rs 177 lakh crore for the entire commodity derivatives market. Globally, MCX is the fifth largest commodity exchange, while it figures among the top two positions in gold and silver segments.
It would be the first exchange in India to go public, putting the country on par with other markets like the US, UK, Japan, Australia, Singapore and Hong Kong.
The equity shares are proposed to be listed on the BSE and the company has received in-principle approval from the BSE for the listing. "The company is open for listing on the National Stock Exchange (NSE) at a later date," Shah said.
MCX is also in favour of bringing exchanges under 'Right To Information' (RTI). The Exchange will work with policy makers to develop a framework for RTI policy. MCX will continue its policy of management continuity without generating legacy by ensuring that generally no MD and CEO can continue beyond two terms, it said.
Shareholders of MCX are looking to raise up to Rs 663 crore through an offer for sale. The issue will hit the market on February 22 and close on February 24.
"This IPO will be a trend-setter for other commodity exchanges to follow. The listing will take MCX at par with other global exchanges that are listed such as NASDAQ, NYSE Euronext, ICE, CME Group, SGX," MCX vice-chairman Jignesh Shah told reporters at the roadshow here.
The offer would comprise sale of about 64.27 lakh shares of Rs 10 each, accounting for a 12.6 per cent stake.
Among the divesting shareholders, Financial Technologies (India) Limited is making offer of 26,43,916 equity shares (5.18 percent), State Bank of India 21,12,025 (4.14 percent), Corporation Bank 2,46,175 shares (0.48 percent), GLG Financials Fund 7,81,508 shares (1.53 percent), Bank of Baroda 1,05,000 shares (0.21 percent), Alexandra Mauritius Limited 3,90,754 shares (0.77 percent) and ICICI Lombard General Insurance Company Ltd 1,48,000 shares (0.29 percent).
The promoters FTIL currently holds 31.2 per cent stake in MCX, which would come down to about 26 per cent post-IPO.
ADVERTISEMENT
MCX is also vying for anchor investor in the the public offering of 64.27 lakh shares, or 12.6 per cent, of the total share equity. Anchor investors have a reservation of 15 per cent of the total share under offer in the issue. MCX, the largest commodity bourse in the country, has more than 70 per cent share in an annual estimated turnover Rs 177 lakh crore for the entire commodity derivatives market. Globally, MCX is the fifth largest commodity exchange, while it figures among the top two positions in gold and silver segments.
It would be the first exchange in India to go public, putting the country on par with other markets like the US, UK, Japan, Australia, Singapore and Hong Kong.
The equity shares are proposed to be listed on the BSE and the company has received in-principle approval from the BSE for the listing. "The company is open for listing on the National Stock Exchange (NSE) at a later date," Shah said.
ADVERTISEMENT
The company said it has decided to have an Exchange Ombudsman for the first time in India subject to necessary approval. The former judge of Bombay High Court, Justice Kamdar, has agreed to be the Exchange Ombudsman.MCX is also in favour of bringing exchanges under 'Right To Information' (RTI). The Exchange will work with policy makers to develop a framework for RTI policy. MCX will continue its policy of management continuity without generating legacy by ensuring that generally no MD and CEO can continue beyond two terms, it said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Q4 earnings roundup: Raymond Realty, MCX among 19 companies that delivered 100%+ growth in sales and PAT2026-05-28T04:41:24Z- BSE vs MCX: Which stock are you betting on? Jefferies, Morgan Stanley, others have their say2026-05-21T04:30:50Z
- Capitalmind Flexi Cap Fund exits RIL and 2 others, hikes stake in Titan Company, MCX and 16 other stocks in April2026-05-15T06:13:43Z
ADVERTISEMENT
