IEX IPO subscribed 15% on Day 1
New Delhi: The initial public offer (IPO) of Indian Energy Exchange (IEX) was subscribed 15% on the first day of bidding on Monday.
The IEX IPO to raise Rs 1,001 crore received bids for 653,022 shares as against the total issue size of 6,065,009 shares, data available with the NSE showed. The portion meant for qualified institutional buyers (QIBs) was subscribed 1%, non-institutional investors 1% and retail investors 30%. Indian Energy Exchange had on Saturday garnered a little over Rs300 crore from anchor investors.
IEX plans to raise Rs1,001 crore through its IPO. It has fixed the price band of Rs1,645- 1,650 per share for the issue. The IPO, through which the company is selling 6,065,009 shares, or 20% of the post-issue paid-up capital, would be open for subscription till 11 October.
Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings are managing the IEX IPO. Indian Energy Exchange is India’s first power exchange providing automated trading platform for electricity (for physical delivery) and renewable energy certificates. PTI SUM MKJ