Companies has to proceed with the Issue before 90 days of sebi's approval, or else they have to re-file the offer documents. MCX will become the first commodity exchange trading to list in India.
The grade indicates that the fundamentals of the issue are strong. It is neither a trading recommendation, nor a comment on the future market price or its suitability, it said.
2 comments:
For an investor, what is the point of having a rating that doesn't take into account the issue price? In my opinion, this CRISIL rating is useless.
In the present market condition,MCX has decided to postpone its IPO plan. The SEBI approval for IPO expires on August 11th. So they are planning to reapply for the IPO the very next day after the earlier validity expire, the source said(http://economictimes.indiatimes.com/Market_News/MCX_may_submit_fresh_IPO_draft/articleshow/3308099.cms). But the fresh application has to be submitted within the current financial year. In case the company fails to do this, it would have to undertake a fresh audit, which would be a long-drawn process.
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