MCX IPO recommended by brokers

Business

oi-Sneha

By Sneha B K

Published: Wednesday, February 22, 2012, 13:42 [IST]

Analysts and experts are bullish on the MCX IPO and have recommended to subscribe, as the valuations of the company remain attractive at the current offer price.

Marketmen expect MCX to gain on listing, especially since the long term growth potential of the company remains good.

India’s largest commodity bourse, Multi Commodity Exchange (MCX), has set price band of Rs 860 to Rs 1,032 a share for its initial public offering, which could raise up to Rs 663 crore.

The IPO opens today and closes on February 24, 2012.

MCX has allotted 9,26,606 shares to anchor investors at the upper end of the price band at Rs 1032 per share.

CRISIL has graded 5/5 to the MCX IPO which indicates 'Strong Fundamentals'.

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