India’s biggest Commodity Exchange, Multi Commodity Exchange will come out for Initial Public Offer on February 22, 2012. The exchange will float 64.27 lakh equity shares in this offer.i.e.12% of paid up shares post issue.
After the completion of issue, the shareholding pattern of MCX will be changed as follows. The shareholding of Financial technologies will be reduced from 31.18% to 26%, SBI holding will be cut from 5.18% to 1.04% while Corporation bank to 3% from 3.48% and bank of Baroda to 0.82% from 1.03%.
Other shareholders of the exchange such GLG Financials Fund holdings will be reduced from 1.92% to 0.38% and Alexandra Mauritius Limited from0.96% to 0.82%.
The rating agency, CRISIL has assigned a 5/5 grade for the exchange IPO on the back of strong fundamentals.
The lead managers of this issue are Edelweiss Financial Services Limited, Citigroup Global Markets India Private Limited and Morgan Stanley India Company Private Limited. Karvy Computershare Private Limited is the registrar
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