MCX revives dull IPO market, subscribed 54x

MCX Ltd, mumbai based commodity exchange which has pan india presence and country’s 1st exchange to go public has been a blockbuster success story. It has revived the depressed sentiments among enthusiastic primary market investor who are willing to commit resources but did not find value.

The issue subscribed 54 times on the last day with overwhelming response from every type of category of investor. Subscription figures are very impressive for all category be it QIB, HNI or Retail.

QIB portion subscribed 49.12 times, HNI section subscribed 150.35 times and Retail portion oversubscribed 24.14 times. Promoter Financial Technologies has reduced its stake in MCX to 26% from 31.18% through this offer.

MCX enjoys virtual monopoly in electronic commodity futures trading in the same manner as NSE does for equity derivatives.

Edelweiss Financial Services Limited, Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited were the book running lead managers to the issue.