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Indian Energy Exchange IPO subscribed 10% on Day One

The company's net profit rose 13.19% to Rs 113.57 crore in FY17

Capital Market 


The initial public offer (IPO) of received bids for 6.07 core shares on the first day of the bidding for the today, 9 October 2017, data on NSE showed as at 16:30 IST. The was subscribed 0.10 times. The price band of the has been fixed at Rs 1,645 to Rs 1,650 per share. The opened for subscription today, 9 October 2017. The issue closes on 11 October 2017.

Ahead of the opening of the IPO, the 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 SBI Mutal Fund (MF), Birla Sunlife MF, JPMorgan India Smaller Companies Fund, SmallCap World Fund, Birla Sunlife Trustee Company, Prudential MF and Nomura among other anchor investors.

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


First Published: Mon, October 09 2017. 18:30 IST