MCX IPO
MCX IPO — date, price band, lot size & details 2012
MCX listed on 9 Mar 2012 at ₹1,408, 36.4% above the ₹1,032 issue price.
Multi Commodity Exchange of India (MCX) is an electronic commodity futures exchange providing online trading, clearing and settlement across India. Its total income was Rs 274.15 crore in FY2011.
Stock price
MCX is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 22 Feb 2012
- Close 24 Feb 2012
- Allotment 07 Mar 2012
- Refund/credit TBA
- Listing 09 Mar 2012
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 24 Feb, 2012 |
|---|---|
| Price Band | ₹860 – ₹1032 |
| Face Value | ₹10 |
| Lot Size | 6 Shares |
| Issue Size | ₹663.31 Cr |
| Sale Type | OFS only |
| Listing On | BSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,192 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 6 shares at the ₹1032 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 6 | ₹6,192 |
| Retail (max) | 32 | 192 | ₹1,98,144 |
| S-HNI (min) | 33 | 198 | ₹2,04,336 |
| S-HNI (max) | 161 | 966 | ₹9,96,912 |
| B-HNI (min) | 162 | 972 | ₹10,03,104 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It was one of the five national commodity exchanges that handled 99.5% of commodity futures turnover in India.
- 02Net worth rose from Rs 494.22 crore in FY2009 to Rs 1,073.08 crore on 31 December 2011.
- 03Profit after tax was Rs 105.27 crore in FY2011, a high margin on its income.
- 04An exchange earns fees on volumes, with little need for debt; total assets were Rs 1,671.75 crore.
Risks · 5
- 01Total income fell from Rs 493.55 crore in FY2009 to Rs 274.15 crore in FY2011.
- 02Profit after tax fell from Rs 220.62 crore in FY2009 to Rs 105.27 crore in FY2011.
- 03Exchange volumes depend on commodity prices and market rules set by the regulator; profit was Rs 93.04 crore in nine months to December 2011.
- 04The whole Rs 663.31 crore issue was an offer for sale, so none of it went to the company.
- 05Financial Technologies held 31.18% before the issue and 26.00% after it, after selling in the offer.
Three years of numbers
All figures in ₹ crore, as reported in the MCX offer document.
| Metric | 31 Dec 2011 | 31 Mar 2011 | 31 Mar 2010 | 31 Mar 2009 |
|---|---|---|---|---|
| Assets | 1,671.75 | 1,499.74 | 1,229.03 | 1,166.41 |
| Total Income | 206.33 | 274.15 | 365.84 | 493.55 |
| Profit After Tax | 93.04 | 105.27 | 158.03 | 220.62 |
| NET Worth | 1,073.08 | 848.49 | 696.98 | 494.22 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the MCX RHP.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the MCX IPO will be updated shortly.
MCX IPO Anchor Investors
15 anchor investors across 9 fund houses committed ₹95.63 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It provides an online trading platform with clearing and settlement for commodity futures across India.
It was one of five recognised national multi commodity exchanges, along with NCDEX, NMCE, ICEX and ACE, which together accounted for 99.5% of commodity futures turnover in India.
The IPO was Rs 663.31 crore and was entirely an offer for sale by existing shareholders, including Financial Technologies, at Rs 1,032, the top of the Rs 860 to Rs 1,032 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
MCX IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Morgan Stanley India Co. Pvt. Ltd
36 issues handledBest listing: Nykaa (+79.4%). Weakest: KSK Energy Ventures (-12.5%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Edelweiss Financial Services Ltd
73 issues handledBest listing: Route Mobile (+104.9%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of MCX?
The current Grey Market Premium is ₹0.
What is the MCX IPO price band?
₹860 to ₹1032, on a face value of ₹10.
When is the allotment?
The basis of allotment is 7 March 2012, with listing on 9 March 2012.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
