India's largest commodity bourse MCX is believed to have said that it would revive the initial public offer plans that was shelved a year back. MCX might soon file a fresh draft red herring prospectus with the market regulator, reported the PTI.
Jinesh Shan, the promoter of MCX is understood to have hinted some investment bankers and brokers recently about the possibility of reviving plans for the IPO, market sources said.
The recent upsurge on the bourses and the hopes of stock market recovery as well as improvement in the overall economic scenario by the second half of 2009 were also the reasons for the management of FTIL and MCX to give a thought over the matter.
There are also rumors that some investors such as Citigroup and Fidelity, who wanted exit after MCX's listing, are giving pressures for the revival plans.
Last year, MCX was planning to hit the capital market to raise Rs.500 crore. However, it is not sure whether the company plans to raise a similar amount once it revives its IPO plans.
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