1. Home
  2. Featured
  3. Indian Energy Exchange gets SEBI nod for IPO
Indian Energy Exchange gets SEBI nod for IPO

Indian Energy Exchange gets SEBI nod for IPO

87
0

NEW DELHI: Indian Energy Exchange (IEX) has received the approval of capital markets regulator SEBI to float an initial public offer.

The company had filed IPO papers with SEBI in June and got ‘observations’ from it on August 14, which is necessary for a company to launch the public offer, as per the latest update with the markets watchdog.

The IPO will see sale of 60, 65,009 equity shares by existing shareholders including Tata Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Renuka Ramnath—led Multiples Alternate Asset Management.

Besides, AF Holdings, Kiran Vyapar Ltd, Golden Oak (Mauritius) Ltd and IEX’s former chief executive Jayant Deo, would offload shares in the public issue, according to the draft red herring prospectus (DRHP).

Established in 2008, IEX is India’s first power exchange providing automated trading platform for electricity(for physical delivery) and renewable energy certificates.

The IPO is being managed by Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings. The shares are proposed to be listed on BSE and National Stock Exchange (NSE).

“The listing of the equity shares will enhance our company’s brand and provide liquidity to the existing shareholders. Our company expects that the proposed listing will also provide a public market for the equity shares in India,” IEX said.

Multi Commodity Exchange (MCX) was the country’s first exchange to go public in 2012. BSE got listed in February this year and its rival NSE has already approached Sebi with IPO papers in December 2016.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *