The country's largest commodity exchange MCX is reviving the process of its initial public offer and may file a new draft prospectus with the market regulator SEBI by the middle of this month.
The company had previously filed a draft red herring prospectus for an estimated Rs 700-crore public issue in February, on which it recieved the go-ahead from Securities and Exchange Board of India on May 12.
However, the company said on Friday last week that it was withdrawing the IPO plan for the time being and would wait for the appropriate market conditions.
A company is required to close the IPO within 90 days of getting Sebi's observations on DRHP, as per which MCX had to complete the IPO bidding period by August 11.
The merchant banking sources said MCX, promoted by Jignesh Shah-led Financial Technologies, is likely to file a new DRHP with Sebi any time after August 11.
In the new prospectus, the exchange would update the financial results till the June-ended quarter but the size and number of shares could remain the same, the sources added.
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When contacted, MCX officials declined to comment.
MCX's IPO would be the second major offer in recent times after that of UTI AMC, which has been deferred due to volatile market conditions.
"Taking into consideration the market scenario and the advice of the merchant banker to defer the isuue, MCX has decided to postpone its IPO for the present," the exchange had said in its statement on Friday.
MCX Managing Director Joseph Massey said, "We are waiting for the right market condition to bring the IPO."
The promoters plan to dilute 10 per cent of its stake to 22 per cent through the IPO.