The wait is finally over, MCX to list on Friday

India’s leading commodity exchange Multi Commodity Exchange (MCX), which plans to raise Rs 663 crore through an initial public offering, will list its shares on March 9, the exchange said in a statement on Tuesday.

The share sale of MCX, which will be the first Indian bourse to list on an exchange, was subscribed more than 24 times.MCX made a public issue of offer for sale of 6,427,378 equity shares of Rs 10 each, which constituted 12.6% of the paid-up equity share capital of Rs 50.99 crore.

[caption id=“attachment_236903” align=“alignleft” width=“380” caption=“The listing will also close MCX’s IPO process. Reuters”]  [/caption]

During the book building process, the offering generated a demand worth Rs 36,000 crore.

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The retail portion of the Rs 650 crore IPO was oversubscribed 24.14 times, while qualified institutional buyers (QIBs) and non institutional investors’ portions were oversubscribed by 49.12 and 150.35 times, respectively.

MCX had fixed the issue price at Rs 1,032 per equity share of face value Rs 10.

MCX will be at par with other international exchanges in New York, London, Paris, Berlin in the West and Singapore, Hong Kong, Tokyo and Sydney in the East which are listed entities.

The exchange’s majority shareholder Financial Technologies India Ltd (and investors, including state-controlled State Bank of India and Bank of Baroda , sold part of their holdings in the IPO.

Agencies