Commodity bourse MCX plans IPO

For the first time in India, an exchange has decided to go public. Multi Commodity Exchange of India Ltd MCX has decided to come out with an initial public offering IPO this year and list its shares on stock exchanges.

The MCX board has already approved the resolution for going ahead with the IPO and will now proceed to take the shareholders8217; approval.

MCX, founded by Financial Technologies Ltd, began operating in 2003 and offers trading in metals, oils, spices and crude oil. The issue could be as early as December, or early next year.

Though MCX has not announced any target amount to be raised through the IPO, market estimates have it that MCX may mop up around Rs 200-300 crore. 8220;Our growth in recent times demonstrates the vibrancy of the Indian commodities market place. We expect large-scale participation from retail and institutional investors and will announce the IPO details after necessary regulatory compliances,8221; said Jignesh Shah, MCX MD and CEO.