Indian Energy Exchange IPO on Oct 9 in India. Indian Energy Exchange is India’s first power exchange, which provides an automated trading platform for electricity and renewable energy certificates. Indian Energy Exchange plans to issue 60.65 lakh shares in the price band of Rs 1645–1650. The minimum lot size is 9, which implies that investors would need a minimum investment of Rs.14,805-Rs.14850. The issue opens on October 9, 2017, and closes on Oct 11, 2017.
The company will be listed on both NSE and BSE. The floor price of the shares is 164.5 times the face value and the cap price is 165 times of the face value. Investors can bid for minimum f9 equity shares and in multiples of it thereafter. Being the first energy exchange in India, having commenced operations in June 2008, IEX continues to enjoy the early mover advantage and strong brand recognition among the participants.
Indian Energy Exchange provides an electronic trading platform for trading of electricity products in India. The electricity products include electricity contracts in blocks of 15 minutes in the day ahead market. Bombay Stock Exchange got listed earlier this year in February while its rival National Stock Exchange has already approached SEBI with IPO papers in December 2016 and may come up with the public offer somewhere around next year.