MCX says no immediate plans for IPO

MUMBAI: Multi Commodity Exchange of India has clarified that there are no immediate plans for initial public offering as reported by some media. The reports said the commodities exchange is likely to announce its long-awaited IPO within a week, wherein it would sell 10 per cent stake through a mix of fresh shares and an offer for sale to raise Rs 500-600 crore. According to sources, fresh shares will contribute the majority of the offering while the offer for sale will account for 2-3%.

The offer for sale would provide many of its Indian and foreign investors an exit route from the bourse which has been valued at $1.2-1.3 billion, the report said. Financial Technologies, the main promoter, recently offloaded around 10 per cent stake in MCX. Today, Financial Technologies shares ended down 0.20 per cent at Rs 2,651.45 on BSE.