Financial Technologies soared by over 7 per cent in the early trade on the BSE today amid reports that the company’s commodity trading platform, Multi Commodity Exchange (MCX), may get listed on the bourses by September this year.
According to media reports, MCX may file a draft red herring prospectus (DRHP) with the regulator by next week and get listed before September-end.
Buoyed by the buzz, the shares of Financial Technologies, which holds a 31 per cent stake in MCX, jumped by 7.09 per cent to a one-month high of Rs 823.75 on the Bombay Stock Exchange. In a similar fashion, the scrip witnessed a gain of 6.97 per cent to Rs 823.45 on the National Stock Exchange.
During the mid-session, the scrip was trading higher by 5.85 per cent at Rs 814.15 on the BSE and up by 5.98 per cent at Rs 815.80 on the NSE.
Filing a DRHP, which contains company information, with the Securities and Exchange Board of India (SEBI) for its observations, is a prerequisite before a company taps the market to raise capital through a share offer.