MCX IPO - Multi Commodity Exchange of India initial public offering

As per ET News today - The largest commodity futures bourse in the country - Multi Commodity Exchange of India (MCX) - is all set to hit the primary market with an initial public offering (IPO).

The commodity exchange is likely to announce its long-awaited IPO within a week. Sources said, MCX would sell 10% stake, through a mix of fresh shares and an offer for sale, to raise around Rs 500-600 crore.

According to sources, fresh shares will contribute the majority of the offering while the offer for sale will account for 2-3%. An offer for sale refers to the sale of promoter's existing equity to the public. The bourse has been valued at around $1.2-1.3 billion.

The issue is being managed by DSP Merrill Lynch, Kotak Securities and Enam Financial.

MCX has been mulling over listing on local bourses for the past two years. Sources said, IPO would provide many of its Indian and foreign investors an exit route. Around 24% of MCX is owned by foreign investors. While Fidelity holds 9%, Merrill Lynch and Citi own 5% each. The other investors include US-based Passport Capital (3%) and the UK-based fund GLG (2%). >>> Read More

Just in - MCX Denies IPO Plan

As per Reuters -The Multi Commodity Exchange of India Ltd (MCX) has no immediate plans to enter the market with an initial public offering, a top company official told Reuters.

“No, there are no immediate plans of this nature. The newspapers may have had some sort of a misunderstanding. It is not true,” Joseph Massey, deputy managing director, MCX, said over the telephone. >> Read Source

Eicher Motors signs JV with Volvo

Swedish giant Volvo bought into Eicher Motors Ltd (EML) and would invest $350 million in a new subsidiary that the two companies would set up.

Volvo and Eicher signed a Letter of Intent on Monday for a joint venture, with an enterprise value of $506 million, that will be a step-down company of EML. Eicher will transfer its commercial vehicles, components and engineering design services business to the new joint venture.

Meanwhile, Shares of Eicher Motors fell sharply on Monday soon after it announced a joint venture with AB Volvo as a step-down subsidiary. The share closed at Rs 477.30, down 12.49 per cent or Rs 68.15. It touched a 52-week high of Rs 599 before the announcement was made. The low for the day was Rs 442.30. Traded volume was 10,52,119 shares.

Silverline Technologies relisted on BSE

Dec. 7, 2007 - Silverline Technologies got re-listed on BSE on Thursday after its trading was suspended from November 13 in order to give effect to the reduction of capital and de-merger of its animation division.

The Rs 10-stock shot up to Rs 220 and finally closed at Rs 160.50, marking a 1,141 per cent gain over the last closing price of Rs 13 on the exchange. About 33-lakh shares changed hands.

Silverline Technologies has demerged its animation division into a separate unit. The new entity, Silverline Animation Technologies, will be listed on the BSE in two weeks. The equity of the new company has been valued at Rs 12 crore which is 4% of the parent company.

The animation company expects revenues of Rs 20-25 crore by the end of the first year. By 2010, the company is planning reach Rs 100 crore in sales.

The Rs 10-stock shot up to Rs 220 and finally closed at Rs 160.50, marking a 1,141 per cent gain over the last closing price of Rs 13 on the exchange. About 33-lakh shares changed hands.

Source Sify and DNA India

Check status of Edelweiss IPO allotment

Edelweiss Capital Limited IPO was oversubscribed by around 110.96 times (retail 17.2171 times).Edelweiss IPO Allotment Status is ready and you can check it here - Edelweiss IPO allotment

eClerx Services Ltd IPO Price band

The price band for eClerx Services Limited has been fixed at Rs 270 and Rs 315.

eClerx Services Limited, a provider of data analytics and customised process solutions to global enterprise clients from its offshore delivery centres in India, proposes to enter the capital markets with an initial public offering of equity shares of Rs 10 each through a 100 per cent book building proces

This Issue has been graded by CRISIL Limited and has been assigned the "IPO Grade 3/5" indicating average fundamentals, through its letter dated October 29, 2007.


The eClerx Services Limited IPO closes for subscription by investors on Friday - December 7, 2007.

The Equity Shares offered through this public issue are proposed to be listed on the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE").

Karvy Computershare Pvt Limited is the registrar to the issue. JM Financial Consultants Pvt Ltd and Edelweiss Capital Ltd are the book running lead managers to the issue.

Source : The Hindu