MCX rises 38% to Rs 1425 on opening

A share of MCX, India's largest commodity exchange, shot up 38% on opening to trade at Rs 1425 as against issue price of 1032 on the BSE.

Equilibrium price for a share stands at Rs 1387, so accordingly the upper circuit limit of 20% is at Rs 1660.8 while lower circuit at Rs 1109.6.

Read here what brokerages said about the IPO

On the National Stock Exchange, it is trading at Rs 1364, up 32.17% after hitting a high of Rs 1428.55 and low of Rs 1348 in early trade. The opening price for a share stands at Rs 1408.

It is the first big ticket IPO as well as first IPO listing of 2012. The company had raised over Rs 663 crore via offer for sale of 64.27 lakh equity shares and there was a dilution of 12.6% by selling shareholders. Financial Technologies, a promoter, reduced its stake to 26% from 31.18% via issue.