Multi Commodity Exchange (MCX) made a superb debut and snapped the session at Rs 1,297.05, a premium of 25.68% or higher by 265.05 points as against its issue price of Rs 1,032, on the BSE.
The shares of the company debuted at Rs 1,387.00 and touched a high and low of Rs 1,426.00 and 1,282.10 respectively. A total of 60,18,370 shares were traded on the counter.
After receiving an overwhelming response, MCX became the first company to list under the new SEBI rules introducing pre-open bidding in the first-day trade of stocks listing after IPOs. Under the new guidelines, announced by the SEBI on January 20, a pre-open bidding is conducted for one hour between 9 am to 10 am, pursuant to which an equilibrium price is discovered. MCX received bids worth Rs 35,000 crore for its Rs 660 crore initial public offering (IPO).
