Cases & Deals

Citigroup, Edelweiss, and Morgan Stanley complete INR 6,626 million IPO and concurrent Rule 144A and Regulation S offering by Multi Commodity Exchange of India

Clients Citigroup, Inc.; Edelweiss; and Morgan Stanley

Jones Day advised underwriters Citigroup, Inc.; Edelweiss; and Morgan Stanley in connection with the INR 6,626 million (US$135 million) of Equity Shares in an initial public offering and concurrent Rule 144A and Regulation S offering by Multi Commodity Exchange of India Limited (MCX).

MCX operates an electronic commodity futures exchange in India that offers futures trading in bullion, ferrous and non-ferrous metals, energy and agricultural commodities. It is the fifth largest commodity futures exchange in the world. MCX, which was incorporated in 2002 and is headquartered in Mumbai, becomes India's first exchange to be listed.

The IPO constituted of an offer for sale of approximately 6.4 million shares, or 12.6% of the company's outstanding equity shares. The IPO is the largest initial public offering so far in India in 2012 and was oversubscribed by more than 55 times.

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