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Indian Energy Exchange Ltd (IEX) Launches Rs 1,000-crore IPO

The issue by which the company is selling 60, 65,009 shares or 20 percent of the post-issue paid-up capital is open for subscription during October 9-11.

News18.com

Updated:October 9, 2017, 1:29 PM IST
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Indian Energy Exchange Ltd (IEX) Launches Rs 1,000-crore IPO
Representative image (Photo: Reuters/Parivartan Sharma)
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New Delhi: Indian Energy Exchange Ltd (IEX) launched its initial public offerings (IPO) to raise Rs 1,000-crore on Monday.

In this regard, IEX has fixed a price band of Rs 1,645-1,650 per share for its public issue.

The issue by which the company is selling 60, 65,009 shares or 20 percent of the post-issue paid-up capital is open for subscription during October 9-11.

Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings are the managers to the issue.

The IPO will see the sale of equity shares by existing shareholders, including Tata Power, Aditya Birla Group, Madison India Capital and Multiples Private Equity Fund.

Fifty percent of the total offer is reserved for qualified institutional buyers (QIBs), of which the company may allocate up to 60 percent of the QIB portion to anchor investors like SBI Mutal Fund, Birla Sunlife MF, Birla Sunlife Trustee Company and ICICI Prudential MF and Nomura.

In a stock exchange filing on Saturday, the company said would allot 18,19,501 equity shares to 23 anchor investors at a price of Rs 1,650 per share, by which the total amount works out to Rs 300.22 crore.

IEX is India's first power exchange providing automated trading platform for electricity (for physical delivery) and renewable energy certificates.
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