Multi-comodity Exchange of India [MCX] has come up with details of its IPO.Some of the stake holders will sell part of their holding through this IPO.
About MCX:
- India’s Biggest commodity exchange.
- As per data published in exchange website between Jan 01, 2011 to June 30 2011 and Futures Industry Association Volune Survey Sept 2011,in the world MCX is No.1 in Silver,No2 in Gold,Copper ,Natural gas futures and No.3 in crude oil trading volumes.
- Platform for Hedging against commodity prices for corporate sectors,SMEs,MSMEs by providing more than 95% price correlation with global markets.
Key Stakeholders:
- Financial Technologies.
- State Bank Of India.
- National Stock Exchange.
- Corporation Bank
- Bank Of India.
- Bank Of Baroda.
- Fidelity International
- Union Bank.
- canara Bank
- HDFC bank
- SBI Life Insurance.
- NABARD.
- And Others
MCX IPO Details:
- Issue Open date:Feb 22, 2012.
- Issue Close date: Feb 24, 2012.
- Issue Size :6,427, 378 equity shares of Rs. 10/-
- Issue price:Rs.860 – Rs.1032 per share.
- Lot Size : 6 and multiples of 6.
- Listing : BSE.
MCX IPO Grading:
CRISIL has assigned a grade of 5 to MCX IPO , which indicates strong fundamentals.CRISIL issues rating on the scale of 5-1,where 5 indicates stongest and 1 indicates poor fundamentals.
Invest Or Not:
Commodity market has a volume of more than that of stock exchanges probably due to higher range of market timings. volumes and awareness about commodity markets is growing with great pace .I think majority of the brokerage houses have advice of investing in this issue and issue grading is supporting also so investors with longer term perspective can definitely think to invest in it.
MCX IPO Updates:
MCX Ipo has been oversubscribed on the second day.
Portion of retail cateogary has been subscribed nearly seven times,qualified institutional investors by 3.68 times and non institutional investors by 1.88 times.
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