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Thursday, February 16, 2012

The Multi Commodity Exchange (MCX), India's biggest commodity exchange by turnover, is coming up with an IPO of Equity Shares which would open for subscription from February 22, 2012. The IPO would remain open for subscription till February 24, 2012. The public issue will comprise sale of about 64.27 lakh shares, accounting for a 12.6 per cent stake in the company

The company will become the first Indian bourse to list its shares on an exchange. "This will be a trend-setter for other exchanges, especially stock exchanges to follow," said Jignesh Shah, vice-chairman of MCX.

MCX IPO has been rated with an IPO Grade 5/5 by CRISIL.This grade indicates that the fundamentals of the IPO are strong relative to other listed equity securities in India. However, this grade is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. The grade is not a recommendation to buy, sell or hold the graded instrument, its future market price or suitability for a particular investor
According to the Grading report, the grade reflects MCX's leadership position in the Indian commodity futures market over the past four years, with a share of ~82% of the overall traded turnover in FY11. The grade takes into account the benefits that MCX will derive from amendments to the Forward Contracts (Regulation) Act, which will allow trading of options and indices, and participation by institutional investors, leading to increase in the traded turnover on commodity exchanges. The grade also draws support from MCX's strong management team and its ability to attract talented and experienced personnel.
Check into Indian IPO Blog regularly for updates on MCX IPO!

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