This '5/5' grade indicates that the fundamentals of the issue are strong relative to other listed equity securities in India, Crisil said in a statement.
According to merchant banking sources, the IPO could hit the market by July-August and the price-band is estimated to be around Rs 650-700 per share.
However, company officials declined to comment on the timing and price of the offer, which is estimated to raise about Rs 700 crore that company plans to invest mostly in greenfield projects.
Crisil said MCX's profitability and return indicators have been strong in the past four years. While growth is likely to moderate in the short term due to the impact of the commodity transaction tax, in the medium term, MCX's strong market position and continuous focus on product innovation would act as growth drivers, the agency said.
In the long term, growth could be spurred further by introduction of new instruments like options and participation by institutional players, once necessary regulatory changes are in place.
At present, MCX enjoys market leadership, with a share of 77 per cent in volumes traded on commodities exchanges in India by focusing on bullion, energy and metals, which are benchmarked to international price.
