Indian Energy Exchange has received markets regulator Securities and Exchange Board of India’s (SEBI) approval 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, which filed the draft red herring prospectus with the SEBI in June, got the regulator’s approval on August 14. 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.
Company Name | CMP |
---|---|
NTPC | 371.35 |
Tata Power | 449.55 |
Power Grid Corp | 324.60 |
Adani Power | 761.85 |
Torrent Power | 1606.00 |
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