Indian Energy Exchange to Open IPO

Indian Energy Exchange Ltd’s (IEX’s) initial public offering will be open for subscription from 9 to 11 October, according to a draft red herring prospectus (DRHP) dated 26 September.

The IPO will see a sale of 6,065,009 equity shares by existing shareholders including Tata Power Co. Ltd, Aditya Birla Group’s private equity arm , Madison India Capital and Multiples Alternate Asset Management Pvt Ltd. The shares are proposed to be listed on the BSE and National Stock Exchange.

The New Delhi-based company filed draft papers with the Securities and Exchange Board of India (Sebi) on 20 June. Axis Capital Ltd, Kotak Mahindra Capital Co. Ltd and IIFL Holdings Ltd are the managers for the IPO.

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