Money Maker Research & Investment Advisor: Indian Energy Exchange IPO to open on 9 October

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Thursday, 5 October 2017

Indian Energy Exchange IPO to open on 9 October

Indian Energy Exchange Ltd’s (IEX) IPO is all set to open for subscription from 9-11 October. The IEX has set a price range of Rs 1,645-1,650 per equity share of face value Rs. 10. It is expected to garner Rs. 1000.73 crore from the offer at the upper end of the price band by selling 60.65 lakh equity shares. The floor price of the shares is 164.5 times the face value and the cap-price is 165 times of the face value. 

The IPO will see a sale of 60,65,009 equity shares by existing shareholders which included Tata Power Company,  private equity arm of AB Group, Madison India Capital and Multiples Alternate Asset Management. IEX is India’s first power exchange providing automated trading platform for electricity and renewable energy certificates.

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