Indian Energy Exchange IPO subscribed 43% on Day 2-2017

The initial public offer (IPO) of Indian Energy Exchange was subscribed 43 percent on the second day of subscription today.
The initial public offer (IPO) of Indian Energy Exchange was subscribed 43 percent on the second day of subscription today.

The IPO, to raise Rs 1,001 crore, received bids for 18,41,130 shares against 42,45,508 shares on offer, as per BSE data.

The portion meant for qualified institutional buyers (QIBs) was subscribed 1 percent, non institutional investors 6 percent and retail investors 84 percent.

Indian Energy Exchange (IEX) on Saturday garnered a little over Rs 300 crore from anchor investors.

IEX plans to raise Rs 1,001 crore through its initial share sale offering. It has fixed the price band of Rs 1,645- 1,650 per share for the issue.

The issue, by which the company is selling 20 percent of the post-issue paid-up capital, would be open for subscription till tomorrow.

Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings are managing the company’s public issue.

IEX is India’s first power exchange providing an automated trading platform for electricity (for physical delivery) and renewable energy certificates.

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