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Multi Commodity Exchange (MCX) To Launch IPO In February

According to certain sources, the initial public offering (IPO) of the Multi Commodity Exchange (MCX) is expected to start on Feb 22 and close on Feb 24. Rated as India’s biggest commodity exchange by turnover, the CMX received approval by the capital market’s regulator to go ahead with the launch of IPO.

MCX Logo

MCX - Multi Commodity Exchange

The MCX is the first exchange in the country to perform an IPO. Even though the price band for the shares is yet to be announced, certain sources indicate that the size of the IPO could be around Rs 650 to 750 crore. In its red herring prospectus filed with the regulator, MCX indicated that it would offer 64.27 lakh shares in the IPO, reserving around 2.5 lakh for its employees.

MCX is rated as the fifth largest commodity exchange in the world, by the number of contracts traded for the 6 months ended June, 2011, according to the Futures Industry Association.

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