New Delhi: Leading commodity bourse MCX's initial public offer was oversubscribed by 32.04 times, attracting bids worth over Rs 18,000 crore, on the final day on Friday on robust demand from all classes of investors.
Multi-Commodity Exchange (MCX), the country's largest commodity exchange and the fifth biggest globally, is looking to raise up to Rs 663 crore through sale of about 64.27 lakh shares, out of which over 9 lakh shares have been already allocated to anchor investors for about Rs 100 crore.
The remainder of about 55 lakh is being sold through 100 per cent book-building process and bids have already come in for about 17.6 crore shares, which is 32.04 times of the offer size.
The shares reserved for retail investors were over-subscribed seven times, while bids from institutional investors and HNIs (High Networth Individuals) were higher 3.7 times and 1.9 times, respectively, of the reserved portions last evening.
At the end of the second day of bidding yesterday, the first ever IPO by an Indian exchange got bids worth about Rs 2,500 crore, more than half of which came from retail investors and the rest from institutional investors and others, including HNIs.
The bidding for the IPO, where shares are being offered in a price-band of Rs 860-1,032 per share, commenced on February 22 and closes at 1700 hrs on Friday.
The promoters FTIL currently holds 31.2 per cent in MCX, which would come down to about 26 per cent after the IPO.
FTIL, SBI, Bank of Baroda, GLF Financials Fund, Alexandra Mauritius Ltd, Corporation Bank and ICICI Lombard General Insurance are the investors divesting part of their holdings in MCX through the public offer.