Multi Commodity Exchange of India files of IPO

[Sukumar]

Multi Commodity Exchange of India (MCX), India's largest commodity
exchange, filed a draft prospectus for its initial public offering
(IPO) with stock market regulator Securities and Exchange Board of
India (Sebi) on Monday, 18 February 2008.

Financial Technologies India, MCX's parent firm, said on Monday, 18
February 2008, it had filed a draft red herring prospectus (DRHP) with
Sebi for an initial share sale by the exchange.

According to DRHP, the public issue of one crore equity shares of face
value Rs 5 each at a premium to be determined through a 100% book-
building process would comprise fresh issue of 60 lakh shares and
another 40 lakh shares to be sold by Financial Technologies India and
Corporation Bank.

According to some reports, the MCX has set a price band of Rs 500-600
a share.

Last week, the exchange sold its 5% stake to NYSE Euronext for $55
million. Post the deal, Financial Technologies holds about 32% stake
in MCX.