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Shares of MCX , India's largest commodity exchange, shut shop with gains of 25.68% or Rs 265.05 at Rs 1297.05 on the BSE. It touched an intraday high of Rs 1,426 and an intraday low of Rs 1,282.10.
The country's only listed exchange opened up 38% at Rs 1,425 as against issue price of Rs 1,032 on the BSE.
"NSE is already the shareholder of MCX and listing on NSE will be the gradual step," MCX Vice-Chairman Jignesh Shah told reporters on the sidelines of the listing ceremony on BSE. The group company Financial Technologies is already listed on the NSE, Shah added.
The MCX scrip witnessed robust buying interest in its debut trade on the stock market and saw its price soaring past Rs 1,400 level within minutes of listing.
After becoming the first Indian exchange to come out with an IPO, and also the first public offer of the year 2012, MCX also became the first company to list under the new Sebi rules introducing pre-open bidding in the first-day trade of stocks listing after IPOs. The IPO got over-subscribed more than 54 times with bids worth about Rs 36,000 crore, as against the targeted proceeds of up to Rs 663 crore through sale of 64.27 lakh shares. MCX had set a price band of Rs 860-1,032 per share for the IPO, and the final price was fixed at the top end at Rs 1,032 given the strong demand witnessed for the offer.
The anchor investors were also allocated shares at the same price. Commenting on pricing of the issue, Shah said, we have decided to go ahead with the IPO in last November and were guided by our merchant bankers. "We are happy along with our selling shareholder partners that investors have subscribed in IPO in large numbers. When decision was taken for IPO, this was the right pricing," he said. Commenting on budget he said, "We are hopeful that lot of things will come positive in this budget.
All five national commodity exchanges and six regional commodity exchanges have given their inputs to the government. We feel that the right decisions are flowing and within that framework we all will perform," he said. Refusing to comment on the finance ministry's proposed move to again impose a Commodities Transaction Tax (CTT), Shah said, "in 2008 it was on consideration and was rolled back. We have not heard anything on that from the government."
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Shares of MCX , India's largest commodity exchange, shut shop with gains of 25.68% or Rs 265.05 at Rs 1297.05 on the BSE. It touched an intraday high of Rs 1,426 and an intraday low of Rs 1,282.10.
The country's only listed exchange opened up 38% at Rs 1,425 as against issue price of Rs 1,032 on the BSE.
"NSE is already the shareholder of MCX and listing on NSE will be the gradual step," MCX Vice-Chairman Jignesh Shah told reporters on the sidelines of the listing ceremony on BSE. The group company Financial Technologies is already listed on the NSE, Shah added.
The MCX scrip witnessed robust buying interest in its debut trade on the stock market and saw its price soaring past Rs 1,400 level within minutes of listing.
After becoming the first Indian exchange to come out with an IPO, and also the first public offer of the year 2012, MCX also became the first company to list under the new Sebi rules introducing pre-open bidding in the first-day trade of stocks listing after IPOs. The IPO got over-subscribed more than 54 times with bids worth about Rs 36,000 crore, as against the targeted proceeds of up to Rs 663 crore through sale of 64.27 lakh shares. MCX had set a price band of Rs 860-1,032 per share for the IPO, and the final price was fixed at the top end at Rs 1,032 given the strong demand witnessed for the offer.
The anchor investors were also allocated shares at the same price. Commenting on pricing of the issue, Shah said, we have decided to go ahead with the IPO in last November and were guided by our merchant bankers. "We are happy along with our selling shareholder partners that investors have subscribed in IPO in large numbers. When decision was taken for IPO, this was the right pricing," he said. Commenting on budget he said, "We are hopeful that lot of things will come positive in this budget.
All five national commodity exchanges and six regional commodity exchanges have given their inputs to the government. We feel that the right decisions are flowing and within that framework we all will perform," he said. Refusing to comment on the finance ministry's proposed move to again impose a Commodities Transaction Tax (CTT), Shah said, "in 2008 it was on consideration and was rolled back. We have not heard anything on that from the government."
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