MCX-SX starts listing services; Dabur first to come on board
Mumbai: MCX Stock Exchange (MCX-SX) on Thursday said it has started its listing services as three companies including FMCG major Dabur India have listed their securities on the Capital Market Segment of the Exchange.
Dabur India was the first company to come on board, other two being Pennar Industries Ltd and DPSC ltd.
Welcoming the three companies on board, MCX-SX MD and CEO Joseph Massey said: "We remain committed to offer issuers and ecosystem intermediaries best of service standards, which will be way above the current benchmark."
Massey further added that "we would ensure continuous innovations for enhancing issuers' experience".
"With this, MCX-SX is now geared up to list shares of companies that are already listed on other exchanges and of those companies proposing to come out with initial public offerings," MCX SX said in a statement.
The Capital Market and Futures and Options segments of MCX-SX were inaugurated by Finance Minister P Chidambaram in Mumbai on February 9, 2013.
Commenting on the development, Dabur India Director Mohit Burman said: "We are sure that the new stock exchange, with its wide network, will reach out to every nook and corner of the country and help the company as well as country in broad basing the investor base."
As per the listing fee structure, MCX-SX is not charging any processing fee or initial listing fee, while the initial listing fee of the National Stock Exchange is Rs 50,000 and for BSE it is Rs 20,000.
The exchange (MCX-SX) charges only annual listing fees, which is significantly less than the existing industry average and is up to 50 percent less than NSE, BSE slabs.
For a company with a paid up capital of up to Rs 5 crore MCX-SX would charge an annual listing fee of Rs 7,500, while for those firms would paid up capital is more than Rs 2,500 crore, the annual listing fee would be Rs 12.50 lakh.
"MCX- SX has a simple listing fee structure, which is attractively priced in comparison with other exchanges," the company statement said adding that "this will translate into reduced cost of issuance and continuous listing for the companies listing on MCX-SX."
As on March 2013, NSE has 1,666 companies listed on it, while BSE has has 5211 companies listed on it.