MCX to raise $125 Mn via public offer

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Bangalore: Multi Commodity Exchange of India, India's largest commodity exchange, has filed papers for IPO to raise $125 million (Rs 500 crore)from the capital market. The company is estimated to raise about Rs 500 crore through sale of one crore equity shares. 32 percent stake holder Financial Technologies India is the largest owner in MCX. NYSE Euronext had bought a five percent stake for about $55 million recently. This deal valued MCX at about $1.1 billion. According to Draft Red Herring Prospectus (DRHP), the public issue of one crore equity shares of five rupee each at a premium to be determined through a 100 percent book-building process would comprise fresh issue of 60 lakh shares and another 40 lakh shares to be sold by FTIL and Corporation Bank.