 "IEX cancels anchor allotment to overseas investors")
Indian Energy Exchange (IEX) has revoked the allotment made to foreign portfolio investors (FPIs) in the anchor category. The move was triggered by a communication from the custodians that FPIs were not eligible to participate in the initial public offering (IPO).
On Friday, IEX had finalised allotment of shares worth Rs 300 crore in the anchor category to a clutch of domestic and overseas investors. Some of the FPIs allotted shares included JP Morgan, Nomura and Baillie GiffordIEX.
The shares allotted to these investors will now be offered to institutional investors that bid in the qualified institutional buyer (QIB) category
