MCX IPO subscribed over 90 per cent on Day 1
22 Feb 2012
The Rs663 crore initial public offer (IPO) by the Multi Commodity Exchange of India (MCX), the first by an Indian exchange, was about 91 per cent subscribed by the close of business hours today, giving a boost to the market for fresh capital.
The IPO has been well received by both retail investors and institutional investors.
The retail portion of the IPO was subscribed 1.5 times, with bids worth an estimated over Rs300 crore while the portion reserved for institutional investors was subscribed 74 per cent with bids worth about Rs150 crore.
The bidding for the MCX offer, which also happens to be the first IPO of the year 2012, got total bids worth about Rs500 crore. The bidding would continue till 24 February.
The shares are being sold in the price-band of Rs860-1,032 apiece and investors submitted bids for about 5 million shares, which accounted for 90.7 per cent of about 5.5 million shares being sold through the 100 per cent book-building process.
A total of 12 anchor investors have already been allocated about 9.27 lakh shares at the top-end of the price band, taking the overall IPO size to 64,27,378 shares.