MCX IPO fully covered on second day: exchange

An initial public offering by Multi Commodity Exchange (MCX) to raise up to $134 million was fully covered on the second day of its launch, stock exchange data showed today.

An initial public offering by Multi Commodity Exchange (MCX) to raise up to $134 million was fully covered on the second day of its launch, stock exchange data showed on Thursday.

MCX, which will become the first Indian bourse to list its shares on an exchange, is offering about 6.4 million shares in the IPO in a price band of Rs 860 to Rs 1,032 a share.

The public sale opened on Wednesday and will close on Friday.

The first Indian IPO this year is seen as a key test of investor appetite for share sales in the local market after weak markets forced many companies to shelve stock offerings last year.

Morgan Stanley, Citigroup and India's Edelweiss Capital are the bookrunners for the share sale.