MCX Raises $19.4Mn In Pre IPO Share Sale From Anchor Investors
Multi Commodity Exchange, who received SEBI’s approval for IPO last year has raised $19.4 Mn from anchor investors in pre IPO share sale.
The anchor investors that bought MCX shares in the pre-IPO sale include BlackRock Global Funds, Deutsche Securities, Kuwait Investment Authority Fund, Credit Suisse, ICICI Prudential Mutual Fund and Tata AIG Life Insurance.
The MCX IPO opened today and will be open for three days. It has finalised allocation of 926,606 shares to anchor investors at R1032 per share.
Morgan Stanley, Citigroup and Edelweiss Capital are the bookrunning lead managers to the issue.
MCX will sell 6.43Mn shares constituting a 12.6% stake in the company through the IPO in a price band of R860 - 1032 a share.
Jignesh Shah promoted Muti Commodity Exchange had initially planned the IPO in 2008, but had to postpone it due to adverse market conditions.
Promoter Financial Technologies will sell a 5.18% stake, while State Bank of India will sell a 4.14% stake.
Bank of India, ICICI Bank, Kotak India, IL&FS BoFA, Passport India, GLG Partners, Citigroup NYSE Euronext and Fidelity International are the other investors in MCX. Financial Technologies which currently holds 31% in MCX will dilute its holding to 26% after the IPO.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 13/03/12 | MCX - ICICI Emerging Fund (Exit) | Private Equity | 6.35 | |
| 01/03/12 | Passport Capital - MCX - Bajaj Holdings | Private Equity | Bajaj Holdings & Investment Limited | 25.41 |
| 22/02/12 | Multi Commodity - Anchor Invesments | IPO / Offerings | Credit Suisse | 19.40 |
| 12/09/11 | Multi Commodity Exchange (MCX) - IPO | IPO / Offerings | - | |
| 18/05/10 | MCX - Government Companies | M&A | Looking For | 100.80 |
| 08/03/10 | Fidelity - MCX - Intel | Private Equity | Intel Capital India Technology Fund | 0.15 |
| 25/02/10 | Fidelity - MCX - Passport India | Private Equity | Passport India Investments (Mauritius) Limited | - |
| 03/02/10 | Citigroup-MCX-Ashmore | Private Equity | Ashmore Plc | 40.00 |
| 14/02/08 | Multi Commodity - NYSE Euronext, Inc. | M&A | NYSE Euronext, Inc. | 50.60 |
| 13/12/07 | Multi Commodity - ICICI Bank Ltd., | Private Equity | ICICI Bank Limited | - |
| 28/09/07 | Multi Commodity - Merrill Lynch & | Private Equity | Bank of America Merrill Lynch & Co. Inc. | 160.00 |
| 05/02/06 | Multi Commodity - Fidelity International Ltd. | M&A | Fidelity International Limited | 49.00 |
| 31/07/05 | Multi Commodity - Times Private Treaties | Private Equity | Brand Capital (Formerly Times Private Treaties) | 2.60 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 11/05/12 | M&A | Warburg Pincus International | Future Capital Holdings Limited (Co.) | - | Planned |
| 08/05/12 | M&A | AEGON | Aegon Religare Life Insurance Company Limited | - | Rumor |
| 08/05/12 | M&A | HCL Group | DLF Pramerica Life Insurance Company Limited | - | Planned |
| 02/05/12 | Private Equity | International Finance Corporation | MAS Financial Services Limited | 12.00 | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Multi Commodity Exchange of India Limited | Financial Technologies India Limited | CTS No. 255, Exchange Square, Suren Road, Andheri East |
ACE Derivative And Commodity Exchange Limited (Ahmedabad Commodity Exchange Limited) Indian Commodity Exchange Limited International Multi Commodity Exchange National Commodity & Derivatives Exchange Limited National Multi-Commodity Exchange of India Limited Universal Commodity Exchange Limited |
www.mcxindia.com |
| ICICI Prudential Asset Management Services Limited | 12th Floor, Narain Manzil, 23, Barakhamba Road, New Delhi: 110001 | DBS Cholamandalam Asset Management Limited | www.icicipruamc.com | |
| Tata AIG Life Insurance Co. Limited | Tata Sons Limited American International Assurance Company (Bermuda) Ltd |
Delphi,B Wing, 2nd Floor, Orchard Avenue, Hiranandani Business Park, Powai |
Reliance Life Insurance Company Limited Max New York Life Insurance Company Limited ICICI Prudential Life Insurance Company Limited LIC of India Bharti AXA Life Insurance Company Limited Bajaj Allianz Life Insurance Co. Limited |
www.tata-aig-life.com |
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