MCX to launch IPO to raise Rs 750 crore by month-end

Posted By: Religare
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MCX to launch IPO to raise Rs 750 crore
Setting an example for rest of the peers, India's largest commodity bourse MCX is buzzed to come out with its Initial Public Offer (IPO) to raise Rs 750 crore by the month-end, as per the sources. With the development in place, MCX would become the first ever exchange in the country to get listed.

With the expectation of the IPO to be in place within the scheduled time “Hopefully", the company is likely to file the Red Hearing Prospectus (RHP), the final IPO document, with the Registrar of the Companies, today, after getting the final go ahead from the Sebi.

The IPO is expected to create a wave in the stock market, lifting the sentiment from the current slump, said MCX Chairman Venkat Chary to media.

Following the IPO, the exchange would hold a market value of around Rs 5,000 crore. Meanwhile, Promoters Financial Technologies India Ltd (FTIL), which holds a stake of 31 per cent before IPO, would reduce to 26 per cent post the launch of IPO, added the sources.

Meanwhile, MCX, the largest commodity bourse in the country, has more than 80 per cent share in the total turnover of the commodity.

Read more about: mcx, ipo
Story first published: Friday, February 10, 2012, 23:43 [IST]
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