Sunday, 14 May 2017

INDIAN ENERGY EXCHANGE LIMITED (IEX) - UPCOMING IPO 


INDIAN ENGERGY EXCHNAGE LIMITED (IEX), is the pioneer power exchange of India. IEX provides transparent, neutral, demutualized and automated platform for physical delivery of electricity. IEX has around 4200 market participants using the exchange to manage their power portfolio in more competitive and reliable manner.

Major Shareholders of IEX – IEX has various fund houses, institutional players and power sector market players as their shareholder. Some well-known investors are mentioned below-
  1. DCB Power Ventures Limited
  2. Multiples Private Equity Fund
  3. Agri Power & Engineering Solutions Pvt Ltd
  4. Aditya Birla Pvt Equity Trust
  5. PTC India Financial Services Limited
  6. IL & FS Trust
  7. Golden OAK (Mauritius) Limited
  8. TATA Power Company
  9. Reliance Infrastructure
  10. Adani Enterprises
  11. REC


IEX is expected to float its IPO in this financial year in order to bring down the public shareholding to 25% in the exchange. The IPO shall be a clear open offer for sale of shares from existing holders and no fresh issue of capital. As per the latest stake sale/ purchase agreement TVS capital & PTC Power Financial Services, valuation of IEX stood at around Rs. 2500-2600 crs.



Few Latest Stake Sale/Purchase Agreement of IEX –

1.      In March 2014, FTIL had announced sale of 5% stake in IEX for Rs.72.89 crore as part of efforts to comply with the regulatory norms. Post that transaction, its shareholding in the company would reduce to 28.49%. Valuing the company at Rs. 700 Crs

2.      BVP, which had invested in the firm in 2010, in 2016 sold around 4% stake in IEX to TVS Capital for around Rs.80-90 crore. Its remaining 6% stake would have fetched it around Rs.130-150 crore, as per VCCircle estimates, based on the recent deals related to IEX. Thus valuing company at Rs. 2500 Crs compared to valuation in 2010 which stood at Rs. 350 Crs.








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