IPO of IEX receives tepid response on Day 1
DSIJ Intelligence / 09 Oct 2017
Indian Energy Exchange Limited raised Rs. 300.22 crore from Anchor Investors. The price band for the issue is Rs. 1,645.00-1,650.00 per share.
The initial public offering (IPO) of Indian Energy Exchange Limited (IEX) was subscribed a mere 0.08 times as at 15:00:00 IST on Monday.
The issue is open for subscription from 9th October to 11th October. The total issue size of the IPO is 60,65,009 shares. The total bids received stood at 4,55,265 shares, while total bids received at cut-off price stood at 3,80,403 shares.
The price band for the issue is Rs. 1,645.00-1,650.00 per share of face value of Rs. 10 each of the company. The minimum bid lot is 9 equity shares and in multiples of 9 equity shares thereafter.
On Saturday, the company raised Rs. 300.22 crore through the Anchor Investors (AIs) portion by allotting 1,819,501 equity shares, which was subscribed by 23 AIs at Rs. 1650/- per equity share.
The Book Running Lead Manager (BRLM) to the offer are Axis Capital Limited, Kotak Mahindra Capital Company Limited and IIFL Holdings Limited. The registrar to the offer is Karvy Computershare Private Limited.
IEX is India’s premier power trading platform. Providing an automated platform for physical delivery of electricity, IEX enables efficient price discovery and offers participants the opportunity to trade in a variety of energy products. The exchange platform increases the accessibility and transparency of the power market in India and enhances the speed and efficiency of trade execution.
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