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MCX initial public offering fully covered on second day

An initial public offering by the Multi Commodity Exchange to raise up to $134 million was fully covered on the second day of its launch.

BT Online Bureau   Mumbai     Last Updated: February 23, 2012  | 12:18 IST

An initial public offering by the Multi Commodity Exchange (MCX) to raise up to $134 million was fully covered on the second day of its launch on Thursday, stock markets data showed on Thursday.

The initial public offering(IPO) of commodity exchange MCX was subscribed 91 per cent on its first day on Wednesday. MCX, which will become the first Indian bourse to list its shares on an exchange, is offering about 6.4 million shares in the IPO in a price band of 860 rupees to 1,032 rupees a share. The public sale opened on Wednesday will close on Friday.

The IPO witnessed robust demand from retail and institutional investors on its first day on Wednesday.

The first Indian IPO this year is seen as a key test of investor appetite for share sales in the local market after weak markets forced many companies to shelve stock offerings last year.

With input from agencies

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