The initial public offering (IPO) of Multi Commodity Exchange of India Ltd. (MCX) has been subscribed by 91% as of 5:00 pm (IST) on the first day, according to the data published on the National Stock Exchange of India (NSE).
The issue has received bids for 49,87,794 shares as against the 5,500,772 shares on offer, the NSE data showed.
The QIB portion was subscribed 0.7 times as per the NSE data, while the Retail section was subscribed 0.6 times. The HNI portion received a muted response.
The MCX IPO opened today and will be open for three days.
The issue is likely to receive very good response from all categories of investors but whether it will revive the comatose primary market remains to be seen.
MCX, which runs the country's biggest commodity exchange, is looking to raise anywhere between Rs. 5.53-6.63bn at a price band between Rs. 860 to Rs. 1032 a share.
MCX yesterday raised ~ Rs. 956mn from 12 anchor investors, the company said in a statement.
The company finalised allocation of 926,606 shares to anchor investors at Rs. 1,032 a share, it said in exchange filings late on Tuesday.
The anchor investors that bought MCX shares in the pre-IPO sale include BlackRock Global Funds, Deutsche Securities, Kuwait Investment Authority Fund, Credit Suisse, ICICI Prudential Mutual Fund and Tata AIG Life Insurance, the filings showed.
MCX, which will become the first Indian bourse to go public, is offering about 6.4mn shares in the IPO.
Morgan Stanley, Citigroup and Edelweiss Capital are the bookrunning lead managers for the MCX IPO.
MCX reported profit of ~Rs 1.76bn last year. In nine months of FY12, it made a PAT of ~Rs 2.18bn.