MCX IPO Gets Highest Rating Of 5/5 From CRISIL

Rating agency Crisil has assigned highest rating grade of 5/5 to the initial public offering of Multi-commodity Exchange of India (MCX), the country's largest commodity exchange.

The ‘5/5’ grade indicates that the fundamentals of the issue are strong, relative to other listed equity securities in India.
But it should be remembered that, the rating is not an opinion on whether the issue price is appropriate in relation to the issue fundamentals. It is neither a trading recommendation, nor a comment on the future market price or its suitability.

Apart from MCX, Acme Tele Power is the only company to receive the highest rating.

The company is expected to raise Rs 500 crore-Rs 600 crore through IPO with issue priced at Rs 500-600 per share.
According to the sources, the IPO could hit the market by July-August, this year.

For the year ended March 31, 2007, MCX reported a net profit of Rs 93 crore on a turnover of Rs 200 crore, compared with a net profit of Rs 37.50 crore and revenues of Rs 100 crore in the previous year.

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