MCX fixes price band at Rs 860-1,032 per share

Toocool

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do not miss this ipo for anything , plan now you can apply only if you have demat acoount...open now, per application limit is now 2 lac...apply with full retail limit of 2 lac .....it opens on 22feb-24 feb. bull market is back.........mcx will be a huge hit.

Multi Commodity Exchange (MCX) on Thursday set a price band of Rs 860 to Rs 1,032 a share for its initial public offering, setting the stage for the first major issue to hit the volatile capital markets in 2012.

Shareholders of MCX are looking to raise up to Rs 663 crore through an offer for sale. The issue will hit the market on February 22 and close on February 24.

"This IPO will be a trend-setter for other commodity exchanges to follow. The listing will take MCX at par with other global exchanges that are listed such as NASDAQ, NYSE Euronext, ICE, CME Group, SGX," MCX vice-chairman Jignesh Shah told reporters at the roadshow in Mumbai.The offer would comprise sale of about 64.27 lakh shares of Rs 10 each, accounting for a 12.6% stake.
Among the divesting shareholders, Financial Technologies (India) Limited is making offer of 26,43,916 equity shares (5.18%), State Bank of India 21,12,025 (4.14%), Corporation Bank 2,46,175 shares (0.48%), GLG Financials Fund 7,81,508 shares (1.53%), Bank of Baroda 1,05,000 shares (0.21%), Alexandra Mauritius Limited 3,90,754 shares (0.77%) and ICICI Lombard General Insurance Company Ltd 1,48,000 shares (0.29%).
The promoters FTIL currently holds 31.2% stake in MCX, which would come down to about 26% post-IPO.
MCX is also vying for anchor investor in the the public offering of 64.27 lakh shares, or 12.6%, of the total share equity. Anchor investors have a reservation of 15% of the total share under offer in the issue.
MCX, the largest commodity bourse in the country, has more than 70% share in an annual estimated turnover Rs 177 lakh crore for the entire commodity derivatives market.
Globally, MCX is the fifth largest commodity exchange, while it figures among the top two positions in gold and silver segments.
It would be the first exchange in India to go public, putting the country on par with other markets like the US, UK, Japan, Australia, Singapore and Hong Kong.
The equity shares are proposed to be listed on the BSE and the company has received in-principle approval from the BSE for the listing.
"The company is open for listing on the National Stock Exchange (NSE) at a later date," Shah said.
The company said it has decided to have an Exchange Ombudsman for the first time in India subject to necessary approval. The former judge of Bombay High Court, Justice Kamdar, has agreed to be the Exchange Ombudsman.
MCX is also in favour of bringing exchanges under 'Right To Information' (RTI). The Exchange will work with policy makers to develop a framework for RTI policy.
MCX will continue its policy of management continuity without generating legacy by ensuring that generally no MD and CEO can continue beyond two terms, it said.
 

xyx2000

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How to apply for IPO? I have demat a/c with hdfc & trading a/c with another broker , can it be done online? i dont have online demat a/c , i can just check my demat a/c balance online, will have to fill up forms?
 

Toocool

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ask hdfc.....i think it may be applied online.
 


xyx2000

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There is a option to apply online in my hdfc netbanking a/c but when i click on the link i always get this
 

Toocool

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first allocate funds for ipo via fund release screen........and then u can apply.......obviously u can do this on 22feb -24 feb. but be sure to ask hdfc because on the first look it looks like u can apply online.but be sure.
 

Toocool

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Mcx ipo is commanding 3800 rs per application in grey market and 320 rs per share on each share allotment basis. Suppose you get 25 share........... You can get 8k in grey market.
 

xyx2000

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me .................... , hope it will be available to apply through hdfc netbanking tomorrow

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first allocate funds for ipo via fund release screen........and then u can apply.......obviously u can do this on 22feb -24 feb. but be sure to ask hdfc because on the first look it looks like u can apply online.but be sure.

the fund release can only be used to release funds if you already have funds blocked for another ipo, if you dont have any funds blocked then you dont need/can't release funds because there is nothing to release, i got everything clarified by hdfc

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Concerns:
Promoters' stake is too low (26%) to instill confidence
Unjustifiable profiting by the promoter through the offer for sale
P/E, P/BV, P/R and P/EBITDA ratios are too high to justify
Crisil's high rating does not consider the offer price
Too many companies in the fold, 21 out of 28 companies are in loss
Likely competition from more money-muscled players in the coming years
Possible introduction of commodity transaction tax
Frightening post-listing record of recent high-priced IPOs
IPO Scan: Multi Commodity Exchange of India - Moneycontrol.com -


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this cleared up my doubts on price band and what price to bid for Investment for Prosperity: Apply MCX IPO at Cut-Off price

So i will chose cutoff price but my money will be blocked for 1032*No of shares applied

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, per application limit is now 2 lac...apply with full retail limit of 2 lac .....i.

limit of 2 lakh & no of shares should be in multiples of six so max you can apply for 192 shares right?
 

xyx2000

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@ toocool , i have three bid options & cutoff price is available for only bid 2 & 3 , i dont understand this , why is cut off price not available for bid one & bid one is mandatory

Also when i enter any number in bid one box it is not added to the total application amount



I manually entered the price & no of shares for bid one above , whats the use of haveing three bid options when i want to chose the cutoff price?
 

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