IEX IPO subscribed 15% on Day 1
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, NSE data showed
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
Editor's Picks »
- Donald Trump warns Iran to ‘never, ever threaten’ US or suffer consequences
- News In Numbers: 44% of tech CEOs are optimistic about the future, shows KPMG survey
- China-US trade war: Is there a silver lining for India?
- Oil prices fall on demand concerns as G20 warns of risks to growth
- GST rate cuts may lower tax revenue by Rs 15,000 crore a year
- Bajaj Auto’s dismal Q1 results builds a case for FY2019 earnings cut
- GST on paints cut, but companies may not pass on full benefit immediately
- June quarter results signal Havells India is off to a bright start this fiscal
- Business gains, not just cost efficiencies, to determine UPL’s Arysta acquisition success
- What ABB India’s performance in June quarter says about capex growth