Multi Commodity Exchange (MCX) has fixed a price band of Rs 860 to Rs 1,032 a share for its Initial Public Offering (IPO).

MCX shareholders are aiming to raise Rs 663 crore through an offer to sell their shares. The issue of shares will open on February 22 and close on February 24. the offer will include sale of about 64.27 lakh shares of Rs 10 each and will account for a stake of 12.6 per cent.

MCX vice-chairman Jignesh Shah said, “This IPO will be a trend-setter for other commodity exchanges to follow. The listing will take MCX at par with other global exchanges that are listed such as NASDAQ, NYSE Euronext, ICE, CME Group, SGX.”

Among the existing shareholders, Financial Technologies India Limited will offer 26,43,916 equity shares accounting for 5.18%, State Bank of India will sell 21,12,025 shares accounting for 4.14%, Corporation Bank will sell 2,46,175 shares worth 0.48%, GLG Financials Fund will sell 7,81,508 shares accounting for 1.53%, Bank of Baroda will offer 1,05,000 shares accounting for 0.21%, Alexandra Mauritius Limited will sell 3,90,754 shares accounting for 0.77% and ICICI Lombard General Insurance Company Ltd will put 1,48,000 shares on sale that account for 0.29% of the company.