MCX also known as Multi Commodity Exchange of India which is the largest commodity exchange of India is all set to bring the initial public offering. This initial public offering is expected to attract large number of investors because of superior fundamentals and also future growth prospectus of commodity market. Credit rating agency CRISIL has assigned a grade of 5/5 to the IPO which indicates good returns for investment.
MCX provides online trading facility to people just like NSE however MCX provides it for commodity trading like silver, copper, gold, crude and so on. The difference between NSE and MCX is that NSE provides online trading facility for stocks while MCX provides for commodity trading.
Multi Commodity Exchange Ltd initial public offer is for around 6.4 million shares, the face value of each share is 10 rupees; MCX IPO will open on 22nd February and close on 24th February. The market lot is 6 shares and the price band for this is between 860 to 1032 rupees. The excepted listing date of this issue is on or after 10th March. Morgan Stanley, Citigroup and India’s Edelweiss Capital are the book runners for this issue.