JSA Amarchand and Jones Day lead on MCX IPO the biggest IPO so far in 2012

The Multi Commodity Exchange of India Limited has completed its initial public offering (IPO) with the issue getting oversubscribed more than 54 times on the last day..MCX had fixed the price of its IPO at the upper end of the band at Rs. 1,032 a share, raising about Rs. 663 crore ($135 million) through the IPO, reports ET..J. Sagar Associates acted as the domestic counsel to the Issuer. The JSA team was led by Partner Nosh Modi..Jones Day advised the book running lead managers Edelweiss, Citi and Morgan Stanley with a team led by capital markets Partner Manoj Bhargava along with Associates Nikhil Naredi, Karun Cariappa and Kevin Khan..Amarchand & Mangaldas acted as the domestic counsel to the Underwriters. The team was led by Partner Yash Ashar..MCX had previously got commitment of Rs. 95.6 crore ($19 million) from a group of 12 anchor investors, reports VCCircle..Jones Day Partner Manoj Bhargava in a statement said, “This was a significant transaction as, after a quiet 2011, this transaction was a measurement of the demand for new issues in India. Initial indications look very good, with outstanding market interest for equity paper of MCX. Over the last five years Jones Day has advised on more equity offerings in India than any other international firm, and it is pleasing to continue this trend with the largest IPO in India so far in 2012. ”.The IPO constituted of an offer for sale of approximately 6.4 million shares, or 12.6% of the company’s outstanding equity shares..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 was incorporated in 2002 and is headquartered in Mumbai. It is the first exchange in India to go public. This is the largest initial public offering so far in India in 2012.