MCX IPO oversubscribes 4.48 times on second day

Posted By: Religare
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MCX IPO oversubscribes 4.48 times on second day
Multi Commodity Exchange of India: Quotes, News
BSE 1055.15BSE Quote1.8 (0.17%)
NSE 1059.00NSE Quote1.85 (0.17%)
The IPO of Multi Commodity Exchange of India Limited (MCX) has received tremendous response from investors. The IPO was subscribed 4.48 times on second day, according to NSE website.

The offer received bids for 246,52,896 shares against 55,00,772 issued shares. The IPO opened on Wednesday and will close today for subscription.

The objects of the issue are to achieve the benefits of listing on the BSE.

The company is a leading commodities exchange in India based on value of commodity futures contracts traded. According to data maintained by the FMC, the total value of commodity futures contract traded on the exchange in 2011, 2010 and 2009 was Rs 98,415.03 billion, Rs 63,933.03 billion and Rs 5,880.95 billion respectively.

MCX has more than 80% share in the Indian commodity futures industry in terms of the value of commodity futures contracts traded.

Dion Global Solutions Ltd

Read more about: mcx, ipo, nse, bse
Story first published: Friday, February 24, 2012, 13:31 [IST]
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