Monday, 9 October 2017

INDIAN ENERGY EXCHANGE LIMITED (IEX) - IPO OPENS ON 9TH OCT, 2017


 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 across utilities from 29 States, 5 Union Territories (UTs), 1200+ private generators (both commercial and renewable energy) and more than 3700 open access consumers are leveraging the Exchange platform to manage their power portfolio.


Products Segments on IEX –
  1. Day Ahead Market (DAM) - Participants transact electricity on 15-minutes block basis, a day prior to the delivery of electricity.
  2. Term Ahead Market (TAM) It covers range of buying/selling for duration of upto 11 days.
  3. Renewable Energy Certificate (REC) – It facilitates transaction in green attributes. It helps the purchaser to fulfill his RPO (Renewable purchase obligations) and also help to compensate their conventional energy consumption into carbon free green consumption. The REC Market offers both solar and non-solar RECs.
  4. Energy Saving Certificates (ESC) – This will be the tradable certificates under the Perform, Achieve, Trade (PAT) Scheme of Bureau of Energy Efficiency (BEE), a market-based mechanism to incentivize energy efficiency in large energy-intensive industries.


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-

Multiples Private Equity Fund
Aditya Birla Pvt Equity Trust
Golden OAK (Mauritius) Limited
TATA Power Company



FINANCIAL HIGHLIGHTS – 5 Years Ended March (Fig in Crs)

PARTICULARS
2017
2016
2015
2014
2013
INCOME
237.4
200.0
176.3
173.9
138.3
PAT
113.5
100.3
90.0
91.9
66.2
EPS
37.4
33.1
29.7
30.3
21.8
EQUITY
30.3
30.3
30.3
30.3
30.3
FV
10.0
10.0
10.0
10.0
10.0
BOOK VALUE
90.7
89.4
79.1
83.4
56.6

Note: Equity paid up includes fully convertible preference shares which are convertible into equity prior to red hearing filled / IPO in ratio 1:1.


IPO DETAILS:

IEX (Indian Energy Exchange Ltd) had filled DRHP with SEBI on 20TH June, 2017 and got approval from SEBI in Aug, 2017. IPO is pure offer for sale of 6065009 shares by existing shareholder i.e Tata Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Multiples Alternate Asset Management.

IEX IPO opens on 9th Oct, 2017 and Closes on 11th Oct, 2017.
IPO Price Band is Rs. 1645 to Rs. 1650/shr.
Minimum order Quantity is 9 Shares.
IEX shares are going to get listed both on BSE & NSE.

(Click here IEX IPO FORM)


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.
  3. Two funds managed by Motilal Oswal Private Equity (MOPE) - India Business Excellence Fund-II and India Business Excellence Fund-IIA - has acquired a 4.1 % stake in Indian Energy Exchange (IEX) from Jindal Power for Rs. 98 crore.
  4. In 2015 , FTIL sells 11% stake to exit Indian Energy Exchange




For buying and selling any unquoted / unlisted / delisted or suspended shares in physical or demat you can reach us at Contact No.91+ 09215709100 or Email us on mittalmanish2003@gmail.com




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