The Multi Commodity Exchange Ltd ( MCX), India's biggest commodity exchange by turnover, has set a price band of Rs860 to Rs1,032 a share for its initial public offering ( IPO) that aims to raise as much as RS6.6 billion.
The first Indian IPO this year would be a key test of investor appetite for share sales in Asia's third-largest economy after weak markets forced many companies to shelve stock offerings last year.
MCX is offering about 6.4 million shares in the IPO, which will open next Wednesday and close on February 24, the exchange said.
The company will become the first Indian bourse to list its shares on an exchange.
MCX's majority shareholder Financial Technologies India and investors including state-controlled State Bank of India and Bank of Baroda will sell part of their holdings in the IPO, according to its prospectus.
Morgan Stanley, Citigroup and India's Edelweiss Capital are the bookrunners for the share sale.