Intel Capital-backed Multi Commodity Exchange of India (MCX) spiked in the first day of trading after its initial public offering on Friday, although in today’s trading the gains were modestly pared.
MCX raised $135m on Friday at R1032 per share. The shares closed up 25.7% on Friday at R1297 per share. They fell 5% in today’s trading to R1233 per share at the end of the session.
The IPO marks the first for an Indian exchange in the country.
MCX also counts research firm Financial Technologies (India), State Bank of India, Corporation Bank, Bank of Baroda, ICICI Lombard General Insurance, GLG Financials Fund and Alexandra Mauritius Ltd. among its shareholders. Financial Technologies held the largest stake at IPO, representing 31.2%.
Intel Capital backed the company in March 2010, as one of three Indian companies in which it invested $23m altogether.