MCX raises Rs 96 crore from pre-IPO share sale

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The country’s Multi Commodity Exchange (MCX) has raised about Rs 95.6 crore from 12 cornerstone investors, the company said, ahead of its initial public offering of shares that aims to raise as much as $134 million.

The country’s biggest commodity exchange by turnover has finalised allocation of 926,606 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.

MCX is offering about 6.4 million shares in the IPOAFP

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 filings showed.

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 Rs 860  to Rs 1,032a share. The public sale opens on Wednesday and will close on Friday.

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