Indian Energy Exchange has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The public offer will comprise sale of 6.06 million shares through a secondary offering by existing shareholders. The company’s shares are proposed to be listed on the BSE and NSE.
The company is not raising any fresh capital from the IPO. The proceeds will go to existing shareholders. The lead managers for the issue are IIFL Holding, Kotak Mahindra Capital Company and Axis Capital.
Indian Energy Exchange (IEX) is India’s premier power trading platform. Providing an automated platform for physical delivery of electricity, IEX enables efficient price discovery and offers participants the opportunity to trade in a variety of energy products.
