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Thursday, 23 February 2012

Personal Finance News : MCX IPO

The MCX IPO opened yesterday February 22nd, 2012.  MCX is the commodities exchange in India, and will be the first publicly traded exchange.  I have seen good reviews about this IPO at all major financial sites, and most reputed financial advisors seem to be recommending this IPO.  I figured I should apply for it as well, and did so yesterday morning.  Interestingly I seemed to have forgotten that retail investors can now invest upto Rs 2Lakh in an IPO.  Earlier the limit used to be Rs 1Lakh.  Was checking out the Business Standard early this morning, and it claims that the MCX IPO was subscribed 91% on the first day with 1.5X in the retail category (clearly I will not get full allocation), 0.16X in HNI (this is very surprising;  does the HNI community know something that I don't?) and QIB portion 0.74X (again not hitting the limit)  In any case, the deed is now done, and we shall see how the allocation works out!

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