Multi Commodity Exchange, MCX fixes IPO price at Rs 1,032 a share
The country's top commodity exchange MCX has fixed the price of its initial public offering (IPO) at the upper end of the band at Rs 1,032 a share, raising about Rs 663 crore through the IPO.
Drawing a huge investor response, the IPO was over-subscribed by more than 54 times attracting bids of about Rs 36,000 crore.
The offer price is fixed at Rs 1,032 per equity share of face value of Rs 10 each. The offer price is 103.2 times of the face value," MCX said in a public announcement today.
The MCX IPO, that closed on Friday last week, received a record-breaking demand from retail, institutional and High Net-worth Individual investors.
In terms of demand from retail investors, the MCX IPO is believed to have surpassed all previous records, as the shares reserved for the retail shareholders was over-subscribed by nearly 24 times.
The bidding for the MCX IPO began on February 22 and closed on February 24 in a price band of Rs 860-1,032 per share.
MCX has more than 70% share in the annua estimated turnover of Rs 177 lakh crore for the entire commodity derivatives market.
Globally, MCX is the fifth-largest commodity exchange, while it figures among the top two positions in gold and silver segments.
It would be the first exchange in India to go public, putting the country at par with other markets like the US, the UK, Japan, Australia and Hong Kong.
src-BS
The country's top commodity exchange MCX has fixed the price of its initial public offering (IPO) at the upper end of the band at Rs 1,032 a share, raising about Rs 663 crore through the IPO.
Drawing a huge investor response, the IPO was over-subscribed by more than 54 times attracting bids of about Rs 36,000 crore.
The offer price is fixed at Rs 1,032 per equity share of face value of Rs 10 each. The offer price is 103.2 times of the face value," MCX said in a public announcement today.
The MCX IPO, that closed on Friday last week, received a record-breaking demand from retail, institutional and High Net-worth Individual investors.
In terms of demand from retail investors, the MCX IPO is believed to have surpassed all previous records, as the shares reserved for the retail shareholders was over-subscribed by nearly 24 times.
The bidding for the MCX IPO began on February 22 and closed on February 24 in a price band of Rs 860-1,032 per share.
MCX has more than 70% share in the annua estimated turnover of Rs 177 lakh crore for the entire commodity derivatives market.
Globally, MCX is the fifth-largest commodity exchange, while it figures among the top two positions in gold and silver segments.
It would be the first exchange in India to go public, putting the country at par with other markets like the US, the UK, Japan, Australia and Hong Kong.
src-BS
Posts
1 comment:
day by day it is prescribing a lot news to them so that they can easily drop this towards them and soon reach a long distances from here.And everyone is increasing their full effort here so that they can do better in next time.
Computer Scanners
Post a Comment