MCX shares hit record highs; Krystal Integrated Services files IPO papers

MCX shares hit record highs

Shares of Multi Commodity Exchange of India (MCX) hit lifetime intraday high on Monday after the country’s largest commodity bourse obtained regulatory clearance to move to a new trading system. After climbing to a record of Rs 2,150, the stock ended at Rs 2,065, up 1.25 per cent over the previous session’s close. “The Technical Advisory Committee of the Securities & Exchange Board of India (Sebi) has recommended that MCX may go-live with the commodity derivative platform (CDP) and to intimate Sebi regarding the proposed date for go live,” MCX said in a stock exchange disclosure.

The shift to the new platform — which helps with critical functions such as trading, clearing and settlements — is expected to improve MCX’s profit margins. Earlier, the exchange had planned to go live with CDP on October 3. However, markets regulator Sebi put the move in abeyance following a complaint by the Chennai Financial Markets and Accountability.

Krystal Integrated Services files IPO papers with Sebi

Krystal Integrated Services has filed preliminary papers with the Securities & Exchange Board of India (Sebi) to mobilise funds through an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 1.75 million shares by promoter Krystal Family Holdings Pvt Ltd, according to the draft red herring prospectus (DRHP) uploaded on Sebi’s website last week.

Krystal Family Holdings owns 100 per cent stake in the company.

Proceeds from the fresh issue will be utilised for debt payment, supporting working capital requirements, fund capital expenditure for purchase of new machinery and for general corporate purposes.

Krystal is a leading integrated facilities management services company with a focus on healthcare, education, public administration, airports, railways and metro infrastructure, and retail sectors.

Also, it provides staffing solutions and payroll management to customers, as well as private security and manned guarding services and catering services.

Inga Ventures Pvt Ltd is the sole book running lead manager to the issue. Equity shares of the company will be listed on the BSE and NSE.

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