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Indian Energy Exchange Raises Rs 300 Crore From Anchor Investors

IEX plans to raise Rs 1,001 crore through an initial share-sale offering. It has fixed a price band of Rs 1,645-1,650 per share for its public issue.
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Indian Energy Exchange Raises Rs 300 Crore From Anchor Investors
New Delhi: Indian Energy Exchange on Saturday said it had garnered a little over Rs 300 crore from anchor investors, ahead of its initial public offering next week. The company would allot 18,19,501 equity shares to 23 anchor investors at a price of Rs 1,650 per share, Indian Energy Exchange (IEX) informed the stock exchanges. At this price, the total amount works out to be Rs 300.22 crore. SBI Mutal Fund (MF), Birla Sunlife MF, Birla Sunlife Trustee Company, ICICI Prudential MF and Nomura are among the anchor investors.

IEX plans to raise Rs 1,001 crore through an initial share-sale offering. It 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 per cent of the post-issue paid-up capital would be open for public subscription during October 9-11.

The IPO will see sale of equity shares by existing shareholders including Tata Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Renuka Ramnath-led Multiples Alternate Asset Management. Besides, AF Holdings, Kiran Vyapar, Golden Oak (Mauritius) and IEX's former chief executive Jayant Deo, would offload shares in the public issue.

Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings will manage the company's public issue.

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

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