MCX shares jump 37% on market debut
Shares in Multi Commodity Exchange (MCX) rose more than 37 percent on their trading debut on Friday, indicating a revival in investor appetite for share offerings after a lacklustre 2011.
Mumbai: Shares in Multi Commodity Exchange (MCX) rose more than 37 percent on their trading debut on Friday, indicating a revival in investor appetite for share offerings after a lacklustre 2011.
MCX, which is the first Indian bourse to list its shares on an exchange, had priced its initial public offering at Rs 1,032, raising Rs 660 crore. The IPO was subscribed more than 54 times.
[caption id="attachment_238726" align="alignleft" width="380" caption="India's Multi Commodity Exchange (MCX) MD Jignesh Shah. Reuters"]
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At 10:01 am, MCX shares were at Rs 1,413, up 37.2 percent in a Mumbai marketthat was up 1.9 percent.
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.
Reuters
