Indian Energy Exchange’s (IEX) associate company -- Indian Gas Exchange (IGX) has filed a draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO).
The IPO comprises of an offer for sale of up to 16,710,000 equity shares by IEX, and remains subject to receipt of applicable approvals, market conditions, and other relevant considerations. The primary objective of the IPO is to achieve the benefits of listing its equity shares on the stock exchange. Axis Capital and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.
Indian Energy Exchange is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as the energy saving certificates.