MCX gains 26% on listing day
NSE adopts stock under ‘permitted' category
The Multi Commodities Exchange (MCX) got listed on the Bombay Stock Exchange at a 34-per cent premium to its IPO price on Friday. Not only was it the first exchange to be listed, but was also the first IPO to follow the new price-discovery mechanism.
To reduce manipulation and volatility on the listing day, SEBI had extended the call auction concept to initial public offerings and relistings. Through this mechanism the discovered price of MCX was Read more [...]