Multi Commodity Exchange and its IPO.

Introduction:

Based
in Mumbai, Multi Commodity Exchange or MCX

is an independent commodity exchange in India. With its vast reach of
more than 800 cities and towns in India and about 1,30,000 trading
terminals, MCX is the largest among the five officially recognized
electronic multi-commodity exchanges in India. India’s No. 1
commodity exchange, MCX has a strong foothold with over 83% of the
market share. It offers futures trading in over 50 commodities
including bullion (Gold and Silver), ferrous and non-ferrous metals,
energy, petrochemicals and numerous agricultural commodities (cash
crops) including mentha oil, cardamom, potatoes, palm oil etc.
Established in the year 2003, as of 2011, MCX is ranked at the fifth
place in the global commodity bourses in terms of the number of
futures contracts traded. MCX COMDEX is India’s first
and only composite commodity futures price index. Financial
Technologies (I) Ltd., State Bank of India and associates, National
Bank for Agriculture and Rural Development (NABARD), National Stock
Exchange of India Ltd. (NSE), Fid Fund (Mauritius) Ltd., Corporation
Bank, Union Bank of India, Canara Bank, Bank of India, Bank of
Baroda, HDFC Bank, ICICI ventures, Merrill Lynch, and New York Stock
Exchange are among the key stakeholders of MCX.

As the first
ever Indian exchange too come out with its IPO (Initial Public
Offering), MCX Ltd is entering into the capital markets with an
initial public offering, IPO of 6,427,378 Equity Shares of Rs. 10
each. The price band for the issue has been fixed at Rs. 860/- at
lower level and Rs. 1032/- at upper level. MCX IPO opened on February
22, 2012 for subscription and closed on February 24, 2012. And, by
23rd February, it had received a record 2,46,52,896 bids for shares
as against its issue size of 55,00,772 shares. MCX IPO finally
oversubscribed 54.10 times on its closing day. The price for the
public issue was fixed finally by MCX at Rs. 1032/- on 27th February
2012.

The listing
date is yet not confirmed. Ganesha, with the help of Vedic Astrology,
attempts to determine the fate of the IPO and its effect on the stock
market.

Technical
Data

Exchange
wise market share of financial year 2010 : –

  • MCX
    82.30%

  • NCDEX-11.80%

  • NMCE
    2.90%

  • Indian
    Commodity Exchange Limited (ICEX) 1.80%

  • ACE
    0.10%

  • Others
    1.1


Issue
Detail:

  • Open:
    Feb 22, 2012 – Feb 24, 2012

  • Type:
    100% Book Built Issue IPO

  • Size:
    6,427,378 Equity Shares of Rs. 10

  • Size:
    Rs. 663.31 Crores

  • Face
    Value: Rs. 10 Per Equity Share

  • Issue
    Price: Rs. 860 – Rs. 1032 Per Equity Share

  • Market
    Lot: 6 Shares

  • Minimum
    Order Quantity: 6 Shares

  • Listing
    At: Bombay Stock Exchange


Expected
Allotment Date05-Mar-2012


Expected
Refund Date06-Mar-2012


Expected
Listing Date 07-to-09-Mar-2012 (Expected)


Astrological
Analysis:



MCX started its
operations in November 2003. However, the exact incorporation date
for the same is unavailable, and hence plotting a chart for the
Exchange is not feasible.


The
exact date on which the issue would be listed is also not available.
Hence, Ganesha looks at the horoscope of the three probable days on
which the issue may be listed. These three dates are 7th March, 9th
March and 12th March 2012. On 8th March, the Exchange would remain
closed on occasion of Holi.

If
Listing Date is 07/03/2012



On
07-03-2012, the conjunction between Moon-Mars shall occur in the
speculation House. And, during this time the Lord of the speculation
House shall be posited in the zodiac sign Aquarius in such a manner
that it shall form an aspect with its own House.

Moon
is the Lord of the 4th House, and it shall be posited in the Madhya
Nakshatra. Meanwhile, Mars ascendant, the Lord of the 8
th
House, shall be posited in the Purvafalguni Nakshatra. Besides, Ketu
Maha Dhasha shall continue till 14-12-2015, while Rahu Antar-Dhasha
shall continue till 01-12-2012.

Keeping
all the aforementioned planetary aspects, if the MCX IPO listing
takes place on 07-03-2012, then Ganesha advises the investors to make
gradual exits while making profits. The short-term view in such a
case shall be barely average. Ganesha doesn’t see a lot of
opportunity in such a scenario.

If
Listing Date is 09/03/2012

Apart
from the Moon moving from the 5th House to the 6th House, and in the
Uttarfalguni Nakshtra (constellation), there shall not be any other
major planetary shifts on 09-03-2012. However, if listing happens on
this day, the scrip shall be under the influence of Sun’s Maha Dasha
from this day onwards, which shall last till 21-04-2012. Also,
Mercury’s Dasha is going to continue till 14-12-2012, which is why
the scrip is going to be more popular with the intraday traders than
it may be with the regular investors. The reason for this is that the
6th House is the signifier of the intraday jobbing at stock market.
And therefore this particular listing day is likely to be very
favourable for intraday jobbing, predicts Ganesha.


If
Listing Date is 12/03/2012


On
12-03-2012, Mercury shall be in a retrograde motion in the Zodiac
Sign Pisces. This is a debilitated sign for Mercury. Thus, on
12-03-2012, Mars and Mercury shall be in a debilitated sign, while
Saturn shall be in the exalted sign.



On
this day, Moon shall be in the Zodiac Sign Libra in the Swati
Nakshatra (constellation). And, Saturn and Moon shall make a
combination. From this very day onwards, Mars’ Antar-dasha in Rahu’s
Maha-dasha shall begin, and this will continue till 07-09-2012.



Thus,
if listing happens on this date (12th March 2012), volatility and
confusing signals can be expected. This shall happen due to the
planetary combinations getting formed between Mars-Rahu and
Moon-Saturn, on this day. Ganesha advises His patrons to be careful
of the illusions, which may get created during this time in the
market. Overall, the long-term results shall be profitable. However,
if you see the possibility of small gains in the short-term as well,
Ganesha advises you to make profits and exit gradually.



Ganesha
wishes all the traders and investors all the luck.


Ganesha’s
Grace,
Dharmeshh Joshi
The GaneshaSpeaks Team



29 February 2012 05:46:58 GMT

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