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    HomeNewsBusinessIPOMCX IPO oversubscribed 4.5 times

    MCX IPO oversubscribed 4.5 times

    Initial public offering of country's largest commodity exchange MCX received tremendous response from all kind of investors and was subscribed 4.5 times on second day.

    February 24, 2012 / 11:12 IST
       
       
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      Initial public offering of country's largest commodity exchange MCX received tremendous response from all kind of investors and was subscribed 4.5 times on second day, as per the NSE website. The issue opened for subscription on Wednesday and will close on Friday.


      It received bids for 2.46 crore equity shares as against issue size of 55 lakh equity shares (excluding anchor book, which was subscribed for Rs 95.6 crore worth of shares on Tuesday).


      Response has been very strong from retail investors. Their reserved portion was subscribed nearly seven times.


      Qualified institutional investors and non institutional investors' book got oversubscribed 3.68 times and 1.88 times, respectively.


      World's fifth largest commodity exchange offers 64.27 lakh equity shares through this public offer, diluting 12.6% stake.


      The issue consists of an offer for sale by Financial Technologies (India) Limited, State Bank of India, GLG Financials Fund, Alexandra Mauritius Limited, Corporation Bank, ICICI Lombard General Insurance Company Limited and Bank of Baroda. So the company will not get any money through this IPO.

      The book running lead managers for the issue are Edelweiss Financial Services Limited, Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited.

      first published: Feb 23, 2012 06:34 pm

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