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MCX IPO opens today, raises $19.4 mn in pre-IPO share sale

MCX has finalised allocation of 9,26,606 shares to anchor investors at Rs 1,032 a share, the top end of the price band it has fixed for the public offering.

BT Online Bureau   Mumbai     Last Updated: February 22, 2012  | 10:02 IST

Multi Commodity Exchange (MCX), India's largest commodity bourse , raised about Rs 95.6 crore from 12 cornerstone investors ahead of its initial public offering (IPO) which opens on Wednesday aiming to raise as much as $134 million.

MCX has finalised allocation of 9,26,606 shares to anchor investors at Rs 1,032 a share, the top end of the price band it has fixed for the public offering, it said in exchange filings late on Tuesday.

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The anchor investors that bought shares in the pre-IPO sale include BlackRock Global Funds, Deutsche Securities, Kuwait Investment Authority Fund, Credit Suisse, ICICI Prudential Mutual Fund and Tata AIG Life Insurance.

The bidding for shares in the IPO - the first in 2012 - will open on Wednesday and close on February 24.

The price band of the IPO has been fixed in the range of Rs 860 to Rs 1,032 per share, with a face value of Rs 10 each.

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Based on the upper end of the price band, the IPO could raise up to Rs 663 crore. Pursuant to the IPO, MCX shares would be listed on the Bombay Stock Exchange.

Morgan Stanley, Citigroup and India's Edelweiss Capital are the bookrunners for the share sale.

With inputs from agencies

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