Indian Energy Exchange raises Rs 300 crore from anchor investors

Indian Energy Exchange today said it has garnered a little over Rs 300 crore from anchor investors, ahead of its initial public offering next week. 

The company would allot 18,19,501 equity shares to 23 anchor investors at a price of Rs 1,650 per share, Indian Energy Exchange (IEX) informed the stock exchanges. 

At this price, the total amount works out to be Rs 300.22 crore. 

SBI Mutal Fund (MF), Birla Sunlife MF, Birla Sunlife Trustee Company, ICICI Prudential MF and Nomura are among the anchor investors. 

IEX plans to raise Rs 1,001 crore through an initial share-sale offering. It has fixed a price band of Rs 1,645- 1,650 per share for its public issue. 

The issue by which the company is selling 60,65,009 shares or 20 per cent of the post-issue paid-up capital would be open for public subscription during October 9-11 

Source :

Smart Grid Bulletin February 2019

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