Shares of Indian Energy Exchange settle at Rs 1,626.45 on BSE, a discount of 1.43% over the initial public offer price of Rs 1,650.
Meanwhile, the S&P BSE Sensex was up 116.76 points or 0.36% at 32,506.72.
Shares of Indian Energy Exchange debuted at Rs 1,500, a discount of 9.09% to the initial public offer (IPO) price. The stock hit a high of Rs 1,658 and low of Rs 1,500 during the day. On BSE, 6.05 lakh shares were traded on the counter.
Indian Energy Exchange had priced the IPO at the top end the Rs 1,645 to Rs 1,650 price band. The IPO opened for subscription on 9 October 2017 and it closed on 11 October 2017. The IPO received bids for 1.20 crore shares and it was subscribed 2.28 times.
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.
Indian Energy Exchange 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).
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