MCX plans post-Holi listing on BSE

After a record-breaking investor demand in the Initial Public Offer (IPO) of its shares, the country's largest commodity exchange MCX may get listed in the stock market this week, possibly on March 9.

Multi-Commodity Exchange (MCX), which is set to become the country's first bourse to get listed, is planning to allot shares to successful IPO bidders by the middle of this week, pursuant to which it plans to list on the BSE, sources said.

The shares could be allotted by March 6-7 and the listing could take place on March 9, as the would be closed for on March 8, they added.

Post its listing, MCX would have lakhs of retail investors as its shareholders, unlike other privately-held exchanges where majority shares are owned by a few foreign and private entities.

Experts believe that the robust demand for could also lead to other exchanges getting listed and also help revive the overall primary market.

The IPO got over-subscribed more than 54 times with bids worth about Rs 36,000 crore, as against the targeted proceeds of up to Rs 663 crore through sale of 64.27 lakh shares.

Out of this, over nine lakh shares were sold to 12 anchor investors for about Rs 96 crore, a day prior to the beginning of the three-day bidding for shares in the IPO on February 22.

The bidding for the remaining 55 lakh shares is estimated to have fetched about Rs 567 crore.

 MCX had set a price band of Rs 860-1,032 per share for the IPO, and the final price was fixed at the top end (Rs 1,032) given the strong demand witnessed for the offer. The anchor investors were also allocated shares at the same price.

The first ever public offer by an Indian exchange has also emerged as the most successful IPO in about four years.

In terms of demand from retail investors, the MCX IPO is said to have surpassed all previous records, as the shares reserved for the retail shareholders were over-subscribed nearly 24 times -- higher than any major public offer so far.

Overall, it got subscribed 54.13 times with the highest over-subscription level since Anil Ambani-led Reliance group's R-Power IPO in January 2008 that was subscribed 73 times.

The previous highly successful IPO was of state-run Coal India in October 2010, which got subscribed 15 times overall, but the retail portion was subscribed only about two times.

The share sale in another public sector behemoth ONGC through a one-day auction last week got subscribed only about 98% only after state-run insurer LIC is said to have pitched a large majority of bids.

The promoters FTIL currently hold 31.2% in MCX, which would come down to about 26% after the IPO.

FTIL, SBI, Bank of Baroda, GLF Financials Fund, Alexandra Mauritius Ltd, Corporation Bank and ICICI Lombard General Insurance were the investors divesting part of their holdings in MCX through the IPO.

image
Business Standard
177 22
Business Standard

MCX plans post-Holi listing on BSE

Press Trust of India  |  New Delhi 



After a record-breaking investor demand in the Initial Public Offer (IPO) of its shares, the country's largest commodity exchange MCX may get listed in the stock market this week, possibly on March 9.

Multi-Commodity Exchange (MCX), which is set to become the country's first bourse to get listed, is planning to allot shares to successful IPO bidders by the middle of this week, pursuant to which it plans to list on the BSE, sources said.

The shares could be allotted by March 6-7 and the listing could take place on March 9, as the would be closed for on March 8, they added.

Post its listing, MCX would have lakhs of retail investors as its shareholders, unlike other privately-held exchanges where majority shares are owned by a few foreign and private entities.



Experts believe that the robust demand for could also lead to other exchanges getting listed and also help revive the overall primary market.

The IPO got over-subscribed more than 54 times with bids worth about Rs 36,000 crore, as against the targeted proceeds of up to Rs 663 crore through sale of 64.27 lakh shares.

Out of this, over nine lakh shares were sold to 12 anchor investors for about Rs 96 crore, a day prior to the beginning of the three-day bidding for shares in the IPO on February 22.

The bidding for the remaining 55 lakh shares is estimated to have fetched about Rs 567 crore.

 MCX had set a price band of Rs 860-1,032 per share for the IPO, and the final price was fixed at the top end (Rs 1,032) given the strong demand witnessed for the offer. The anchor investors were also allocated shares at the same price.

The first ever public offer by an Indian exchange has also emerged as the most successful IPO in about four years.

In terms of demand from retail investors, the MCX IPO is said to have surpassed all previous records, as the shares reserved for the retail shareholders were over-subscribed nearly 24 times -- higher than any major public offer so far.

Overall, it got subscribed 54.13 times with the highest over-subscription level since Anil Ambani-led Reliance group's R-Power IPO in January 2008 that was subscribed 73 times.

The previous highly successful IPO was of state-run Coal India in October 2010, which got subscribed 15 times overall, but the retail portion was subscribed only about two times.

The share sale in another public sector behemoth ONGC through a one-day auction last week got subscribed only about 98% only after state-run insurer LIC is said to have pitched a large majority of bids.

The promoters FTIL currently hold 31.2% in MCX, which would come down to about 26% after the IPO.

FTIL, SBI, Bank of Baroda, GLF Financials Fund, Alexandra Mauritius Ltd, Corporation Bank and ICICI Lombard General Insurance were the investors divesting part of their holdings in MCX through the IPO.

RECOMMENDED FOR YOU

MCX plans post-Holi listing on BSE

Multi-Commodity Exchange (MCX), which is set to become the country's first bourse to get listed, is planning to allot shares to successful IPO bidders by the middle of this week, pursuant to which it plans to list on the BSE, sources said.

After a record-breaking investor demand in the Initial Public Offer (IPO) of its shares, the country's largest commodity exchange MCX may get listed in the stock market this week, possibly on March 9.

Multi-Commodity Exchange (MCX), which is set to become the country's first bourse to get listed, is planning to allot shares to successful IPO bidders by the middle of this week, pursuant to which it plans to list on the BSE, sources said.

The shares could be allotted by March 6-7 and the listing could take place on March 9, as the would be closed for on March 8, they added.

Post its listing, MCX would have lakhs of retail investors as its shareholders, unlike other privately-held exchanges where majority shares are owned by a few foreign and private entities.

Experts believe that the robust demand for could also lead to other exchanges getting listed and also help revive the overall primary market.

The IPO got over-subscribed more than 54 times with bids worth about Rs 36,000 crore, as against the targeted proceeds of up to Rs 663 crore through sale of 64.27 lakh shares.

Out of this, over nine lakh shares were sold to 12 anchor investors for about Rs 96 crore, a day prior to the beginning of the three-day bidding for shares in the IPO on February 22.

The bidding for the remaining 55 lakh shares is estimated to have fetched about Rs 567 crore.

 MCX had set a price band of Rs 860-1,032 per share for the IPO, and the final price was fixed at the top end (Rs 1,032) given the strong demand witnessed for the offer. The anchor investors were also allocated shares at the same price.

The first ever public offer by an Indian exchange has also emerged as the most successful IPO in about four years.

In terms of demand from retail investors, the MCX IPO is said to have surpassed all previous records, as the shares reserved for the retail shareholders were over-subscribed nearly 24 times -- higher than any major public offer so far.

Overall, it got subscribed 54.13 times with the highest over-subscription level since Anil Ambani-led Reliance group's R-Power IPO in January 2008 that was subscribed 73 times.

The previous highly successful IPO was of state-run Coal India in October 2010, which got subscribed 15 times overall, but the retail portion was subscribed only about two times.

The share sale in another public sector behemoth ONGC through a one-day auction last week got subscribed only about 98% only after state-run insurer LIC is said to have pitched a large majority of bids.

The promoters FTIL currently hold 31.2% in MCX, which would come down to about 26% after the IPO.

FTIL, SBI, Bank of Baroda, GLF Financials Fund, Alexandra Mauritius Ltd, Corporation Bank and ICICI Lombard General Insurance were the investors divesting part of their holdings in MCX through the IPO.

image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

More News

  • Welspun Welspun India turns volatile; stock dips 8%
  • AstraZeneca Pharma falls on receiving termination notice for Meronem AstraZeneca Pharma falls on receiving termination notice for Meronem

STOCK WATCH

Company Price() Chg(%)
GVK Power Infra. 6.63 7.63
Trident 49.80 7.21
Orient Cement 184.75 6.79
Syngene Intl. 462.25 6.34
KSK Energy Ven. 28.70 5.13
> More on BSE Gainers
Company Price() Chg(%)
GVK Power Infra. 6.65 8.13
Trident 49.85 7.32
Puravankar.Proj. 49.70 7.00
Orient Cement 184.70 6.76
Syngene Intl. 463.45 6.54
> More on NSE Gainers
Company Price() Chg(%)
Welspun India 53.60 -9.61
Astrazeneca Phar 1071.65 -6.04
Manappuram Fin. 81.00 -5.26
Torrent Pharma. 1612.75 -5.21
Sequent Scien. 138.90 -4.24
> More on BSE Gainers
Company Price() Chg(%)
Welspun India 53.55 -10.00
Astrazeneca Phar 1071.90 -5.84
Manappuram Fin. 80.85 -5.66
Torrent Pharma. 1611.25 -5.28
KPIT Tech. 129.55 -4.36
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard