Monday, February 13, 2012

MCX IPO in February; Gets SEBI Nod For IPO

Multi Commodity Exchange (MCX) is going to launch their Rs. 600 crore plus IPO in February 2012. As per the sources MCX IPO Dates will be 21 February for Open and close will be on 24 February. For Retail Investors MCX IPO will open on 22 February. With this issue MCX will sell their 12.5% stake. MCX will become the first exchange to list in the stock market in India. However the IPO Price is still in the waiting list but it will come out soon with the announcement.

In 2008, MCX IPO was declared but because of the negative market mood they canceled the IPO and now they are coming back to hit the market as soon as possible.

Financial Technologies (India) Ltd, State Bank of India (Equity), GLG Financials Fund, Alexandra Mauritius Ltd, Corporation Bank, Bank of Baroda and ICICI Lombard General Insurance are the selling shareholders.

Citigroup Global Markets India, Edelweiss Capital Ltd and Morgan Stanley India will manage the offer for sale, according to the draft prospectus filed with SEBI in April last year.