Indian Energy Exchange IPO subscribed 43% on Day 2
The IEX IPO to raise Rs1,001 crore received bids for 1,841,130 shares against 4,245,508 shares on offer
New Delhi: The initial public offering (IPO) of Indian Energy Exchange Ltd (IEX) was subscribed 43% on the the second day of the share sale on Monday, data from the exchanges showed.
As of 5pm, the portions of shares reserved for institutional investors was subscribed 1% and that for non-institutional investors was subscribed 6%. The portion of shares reserved for retail investors saw a subscription of 84%.
The Rs1,000 crore IEX IPO will close on 11 October.
IEX, India’s largest energy exchange, has set a price band of Rs1,645-1,650 per share for the IPO. At the upper end of this price band, the initial share sale values the firm at Rs5,000 crore.
The IEX IPO, by which the company is selling 20% of the post-issue paid-up capital, would be open for subscription till Wednesday. Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings are managing the company’s public issue. IEX is India’s first power exchange providing automated trading platform for electricity (for physical delivery) and renewable energy certificates.