Thursday 8 March 2012
MCX rises 38% to Rs 1425 on opening trade
A share of MCX, India's largest commodity exchange, shot up 38% on opening to trade at Rs 1425 as against issue price of 1032 on the BSE.
Equilibrium price for a share stands at Rs 1387, so accordingly the upper circuit limit of 20% is at Rs 1660.8 while lower circuit at Rs 1109.6.
It is the first big ticket IPO as well as first public listing of 2012. The company had raised over Rs 663 crore via offer for sale and there was a dilution of 12.6% by selling shareholders. Financial Technologies, a promoter, reduced its stake to 26% from 31.18% via issue.
Equilibrium price for a share stands at Rs 1387, so accordingly the upper circuit limit of 20% is at Rs 1660.8 while lower circuit at Rs 1109.6.
It is the first big ticket IPO as well as first public listing of 2012. The company had raised over Rs 663 crore via offer for sale and there was a dilution of 12.6% by selling shareholders. Financial Technologies, a promoter, reduced its stake to 26% from 31.18% via issue.
