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MCX IPO is Successful

If we go by the success in terms of number of times an issue is subscribed, than MCX IPO can be called as the most successful IPO for year 2009,2010,2011 and 2012 as it has been subscribed by 54.09 times on the last day of bidding. It is pertinent to note that The applications continued to come in even after the deadline of 5 pm for the closure of the IPO and the investment bankers sought extension of time for acceptance of the bids.

The bidding for the MCX IPO began on February 22 and closed today in a price band of Rs 860-1,032 per share, which could raise Rs 663 crore at the top end of the price-band. Most of the bids have been received in the higher band.

Such a significant successful IPO was Anil Ambani-led Reliance group's Reliance Power (R-Power) IPO in January 2008, which was subscribed nearly 73 times. However post listing it fizzled like anything because it was a systematic hype created by Anil Ambani by artificially increasing the prices in grey market.

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