News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« Markets »
 FM calms nerves, says no plan to tax market gains
 Why we must tweak the market-led model
 PE transactions prompt income tax queries over round tripping concerns
 Amended India-Mauritius tax treaty only covers investments in shares
 Government drops cap gains tax on startup shares held for 2 years
 Tax-free bonds regain demand in the secondary market
 Relevant Market’ Under Competition Act, 2002
 Indian markets best in terms of earnings momentum, price revision
 How India will become a common market with GST
 Broader markets outperform; Nifty holds 8,500
 Have Indian markets run ahead of fundamentals?

MCX gets Sebi nod for IPO
September, 13th 2011

Multi Commodity Exchange (MCX), the leading commodity exchange, has got the market regulator Sebi's nod for its IPO that was twice delayed in the last five years. It had first filed its prospectus for listing in 2006 and then in 2008, but could not complete the process.

It would be the first bourse in the country to be listed. The Sebi nod for the IPO, which came on Friday, is valid for 12 months and the exchange has been asked to file the offer document with stock exchanges and registrar of companies, a company spokesperson said. MCX had filed the draft IPO prospectus with Sebi in March 2011 through which some of its existing shareholders together intend to sell about 64.3 lakh shares (or 12.6% of the company's equity) of a face value of Rs 10.

The pricing for the issue will be decided through the book-building process.
Financial Technologies (FTIL), State Bank of India, GLG Financials Fund, Alexandra Mauritius, Corporation Bank, ICICI Lombard General Insurance and Bank of Baroda are the selling shareholders in the offer. FTIL, a shareholder-promoter of MCX, currently holds 31% in the bourse and post offer this will come down to 26%. Among MCX's other shareholders are NYSE Euronext, Fidelity, Merrill Lynch and Nabard.

MCX is the sixth largest commodity exchange in the world in terms of number of futures contracts traded. In silver, it the exchange where most contracts are traded while in gold futures it ranks second in the world. At present bourse in countries like US, Hong Kong, UK, Singapore, Japan and Australia are listed.

The offer, which has an IPO grade of 5 out of 5 from Crisil, will be managed by Edelweiss Capital, Citigroup Global Markets India and Morgan Stanley India.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions