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Indian Energy Exchange Ltd.

BSE: 540750 Sector: Others
NSE: IEX ISIN Code: INE022Q01020
BSE 12:17 | 18 Oct 798.10 5.25
(0.66%)
OPEN

800.75

HIGH

807.75

LOW

791.40

NSE 12:09 | 18 Oct 799.00 5.90
(0.74%)
OPEN

797.80

HIGH

808.20

LOW

791.20

OPEN 800.75
PREVIOUS CLOSE 792.85
VOLUME 194680
52-Week high 819.00
52-Week low 181.00
P/E 102.06
Mkt Cap.(Rs cr) 23,911
Buy Price 798.05
Buy Qty 156.00
Sell Price 798.60
Sell Qty 38.00
OPEN 800.75
CLOSE 792.85
VOLUME 194680
52-Week high 819.00
52-Week low 181.00
P/E 102.06
Mkt Cap.(Rs cr) 23,911
Buy Price 798.05
Buy Qty 156.00
Sell Price 798.60
Sell Qty 38.00

Indian Energy Exchange Ltd. (IEX) - Company History

Indian Energy Exchange Limited (IEX) is the first and largest power exchange in India. It has a dominant market share of over 98% of traded volume in electricity and diverse registered participants base of more than 6300. Providing an automated trading platform for physical delivery of electricity IEX enables efficient price discovery and offers participants the opportunity to trade in electricity contracts Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates). The exchange platform increases the accessibility and transparency of the power market in India and enhances the speed and efficiency of trade execution. IEX is approved and regulated by Central Electricity Regulatory Commission (CERC) and has been operating since 27 June 2008. The Exchange is a professionally managed company. Indian Energy Exchange is one of two exchanges in India that offer an electronic platform for the trading of electricity products and has a substantial majority market share among the power exchanges in India. The DAM constitutes the substantial majority of the energy contracts that are traded on the Exchange. The Exchange is an online platform which is accessible to registered participants throughout India. The Exchange increases the accessibility and transparency of the power market in India and enhances the speed and efficiency of trade execution. In addition to trade execution the exchange offers settlement services including electronic trade confirmation access to clearing services and risk management functionality.Indian Energy Exchange Limited was incorporated as a public limited company on March 26 2007 in Maharashtra. The Company obtained a certificate of commencement of business on April 17 2007. In 2009 trading on its exchange commenced in day-ahead-market (DAM).In 2010 the company registered first industrial consumer on its exchange. During the year under review trading on its exchange commenced in term-ahead- market (TAM). During the year under review the average monthly cleared volume on its exchange crossed 500 million units (MU). In 2011 trading on its exchange commenced in renewable energy certificates (RECs).In 2014 the daily average cleared volume on its exchange touched 79 MU/day and highest cleared volume in a day crossed over 117 MUs. In 2015 highest cleared volume in a day on its exchange crossed over 131 MUs.In 2016 daily average cleared volume on its exchange touched 93 MU/day and highest cleared volume in a day crossed over 136 MUs. In August 2016 the Exchange received three ISO Certifications: ISO 9001:2008 for quality management ISO 27001:2013 for information security management and ISO 14001:2004 for environment management.In 2017 daily average cleared volume on its exchange touched 109 MU/day and highest cleared volume in a day crossed over 147 MUs. Trading of energy saving certificates (ESCerts) on its exchange commenced on 26 September 2017. The company came out with an initial public offer (IPO) during the period from 9 October 2017 to 11October 2017. The IPO comprised of offer for sale of 60.65 lakh shares by selling shareholders. There was no fresh issue of shares from the company. The stock debuted at Rs 1500 on BSE on 23 October 2017 a discount of 9.09% compared to the IPO price of Rs 1650 per share. On 28 March 2018 Indian Energy Exchange (IEX) and Japan Electric Power Exchange (JEPX) signed a Memorandum of Understanding (MoU) for jointly exploring the opportunities of cooperation in electricity market. The intent of the MoU is to share experience and cooperate with each other in respect of technology and in energy market products development. The scope of MoU includes opportunities for training to augment the electricity trading through competitive market platforms by organizing knowledge sharing programs.The Board of Directors of Indian Energy Exchange Limited (IEX) at its meeting held on 26 April 2018 decided not to go ahead with the buyback of Equity Shares of the company.The Board of Directors of Indian Energy Exchange Limited (IEX) at its meeting held on 9 August 2018 recommended Sub-Division of 1 (one) Equity Share of face value of Rs. 10/- (ten) each fully paid up into 1 (one) Equity Shares of Rs. 1/- (one) each fully paid up resulting in issuance 10 (ten) Equity Shares of Rs. 1/- (one) each fully paid up thereby keeping the paid up capital intact subject to the approval of the Members in the ensuing 12th Annual General Meeting. Additionally the Board approved increase in limit of total shareholding of all Registered Foreign Portfolio Investors (FPIs)/Registered Foreign Institutional Investors (FIIs) put together from 24% up to 49% (which is present sectorial cap under existing FDI Policy) of the paid-up equity share capital of the company which shall be subject to approval of shareholders in the ensuing Annual General Meeting and other regulatory approvals/limitations. On 29 September 2018 the highest volume traded on its exchange in Day-Ahead Market (DAM) touched 306 MU. This is all time high record volume.During the year 2019 the Company initiated the Buyback proposal for buy-back of up to 3729729 fully paid-up equity shares of Rs. 1/- each of the Company (representing 1.23% of the total number of equity shares in the paid-up share capital of the Company) at a maximum price of Rs. 185/- per equity share on a proportionate basis through tender offer for an aggregate amount of Rs. 690000000/- (excluding transaction costs viz. brokerage securities transaction tax service tax stamp duty etc.). The Record Date for determining the eligibility of the shareholders to participate in the Buyback was set as February 15 2019. The Company completed the Buyback on April 11 2019 that is within 12 months from the date of Special Resolution passed for approving the proposed buy back which is January 28 2020.In FY19 India achieved an installed power capacity of 356 GW and generation of about 1371 billion units with diverse generation mix comprising coal gas hydro renewable and nuclear energy.

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