India's largest commodity bourse Multi Commodity Exchange or MCX has fixed a price band between Rs.860 and Rs.1,032 apiece for its initial public offering or IPO, which could raise up to Rs.663 crore, based on the upper end of the price band.
The issue opens on February 22 and closes on February 24. This could also be the first IPO of 2012 for Indian market.
The offer would comprise sale of around 64.27 lakh shares, accounting for around 13 percent stake in the company.
Morgan Stanley, Citigroup and Edelweiss Financial Services are the book running lead managers for the share sale.
The promoter, FTIL, currently holds 31.2 percent stake in MCX, which would come down to around 26 percent, post IPO.
MCX, the largest commodity bourse in the country, has more than 70 percent share in an annual estimated turnover 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, UK, Japan, Australia, Singapore and Hong Kong.
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