You are here: Home » Markets » IPOs » News
Business Standard

Indian Energy Exchange IPO subscribed 2.14 times on day three

The IPO opened for subscription on 9 October 2017

Capital Market 

IPOs
Representative image. (Photo: Shutterstock)

Receives bids for 1.13 crore shares

The (IPO) of received bids for 1.13 crore shares on the third and final day of the bidding for the IPO today, 11 October 2017, data on showed as at 16:30 IST. The IPO was subscribed 2.14 times. The price band of the IPO has been fixed at Rs 1,645 to Rs 1,650 per share. The IPO opened for subscription on 9 October 2017. The issue closes today, 11 October 2017.

Ahead of the opening of the IPO, the IPO committee of the board of directors of the company at its meeting held on 6 October 2017, finalized allocation of 18.19 lakh equity shares to 23 anchor investors at Rs 1,650 per share. Anchor investors include (MF), MF, India Smaller Companies Fund, SmallCap World Fund, Trustee Company, MF and among other anchor investors.

The offer comprises of an offer for sale of 60.65 lakh shares by selling shareholders. The selling shareholders comprise institutional investors such as Private Equity fund, AF Holdings, Golden Oak (Mauritius), Lightspeed Venture Partners, Madison India Opportunity fund, Multipes Private Equity fund apart from company and individual investors namely Jayant Deo and Kiran Vyapar.

The company's net profit rose 13.19% to Rs 113.57 crore on 18.63% rise in total income to Rs 237.42 crore in the year ended 31 March 2017 (FY 2017) over FY 2016.

is a professionally managed company and is the largest exchange for trading of range of electricity contracts in India in terms of traded contract volumes in FY 17, according to Central Electricity Regulatory Commission (CERC).

Powered by Capital Market - Live News

First Published: Wed, October 11 2017. 17:41 IST
RECOMMENDED FOR YOU