MCX IPO ends 50 times covered, prices at the top

Shareholders of Multi Commodity Exchange of India (MCX), the country’s trading platform for commodity futures, have raised Rs6.63 billion ($134 million) from India’s first initial public offering in seven months after the price was fixed at the top end of the range. The latter was no surprise after investors piled into the transaction, leaving the overall deal just over 54 times covered.