Indian Energy Exchange raises Rs 300 crore from anchor investors ahead of IPO
Indian Energy Exchange on Saturday said it has garnered a little over Rs300 crore from anchor investors, ahead of its initial public offering (IPO) next week.
The company would allot 18,19,501 equity shares to 23 anchor investors at a price of Rs1,650 per share, Indian Energy Exchange (IEX) informed the stock exchanges. At this price, the total amount works out to be Rs300.22 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 Rs1,001 crore through an initial share-sale offering. It has fixed a price band of Rs1,645-1,650 per share for its public issue.
The issue by which the company is selling 6,065,009 shares or 20% of the post-issue paid-up capital would be open for public subscription during 9-11 October. The IPO will see sale of 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, Golden Oak (Mauritius) and IEX’s former chief executive Jayant Deo, would offload shares in the public issue. Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings will manage the company’s public issue.
IEX is India’s first power exchange providing automated trading platform for electricity (for physical delivery) and renewable energy certificates.