Indian Energy Exchange Pares Listing Losses; Trades Higher

By Oneindia Staff Writer
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts


     Indian Energy Exchange, the power exchange company in the country opened its Rs. 1001 crore IPO issue with a price band of Rs. 1645- Rs. 1650. The company listed on the bourses at a discount of 9% to the issue price at Rs. 1,500. However, the shares soon recovered early listing losses and was last seen trading at Rs. 1,641 on the NSE.


     Indian Energy Exchange Pares Listing Losses; Trades Higher
    The first IPO by the power exchange was subscribed 2.28 times, of which institutional investors, non-institutional investors and retail investors subscribed 2.56 times, 0.85 times and 2.61% respectively.
     

    "IEX growth prospects are mainly driven by the factors like opportunity in short term Indian power market, largoe diverse customer base and proven management track record. Going forward, generation and peak power demand in India over FY17-22E is expected to record a CAGR of 29.6% and 7.3% respectively as per CRISIL Risk and Infrastructure Solutions Ltd. (CRIS)," IIFL Wealth Management said in IPO note.

    The company reduced the portion of shares that can be subscribed by anchor investors as FPIs through the primary market are not allowed to invest in the energy exchange. They can do so after the company scrip gets listed on the bourses.

    Goodreturns.in

    Story first published: Monday, October 23, 2017, 11:15 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more