New Delhi: Indian Energy Exchange (IEX) Ltd has filed draft papers with capital markets regulator Sebi to float an initial public offering (IPO).
The IPO will see sale of 6,065,009 equity shares by existing shareholders including Tata Power Company Ltd, Aditya Birla Group’s private equity arm , Madison India Capital and Renuka Ramnath-led Multiples Alternate Asset Management Pvt Ltd. Besides, AF Holdings, Kiran Vyapar Ltd, Golden Oak (Mauritius) Ltd and IEX’s former chief executive Jayant Deo would offload shares in the public issue, according to the draft red herring prospectus (DRHP).
Established in 2008, IEX is India’s first power exchange providing automated trading platform for electricity(for physical delivery) and renewable energy certificates. Axis Capital Ltd, Kotak Mahindra Capital Company Ltd and IIFL Holdings Ltd will manage the company’s public issue. The shares are proposed to be listed on the BSE and National Stock Exchange (NSE). “The listing of the equity shares will enhance our company’s brand and provide liquidity to the existing shareholders. Our company expects that the proposed listing will also provide a public market for the equity shares in India,” IEX said.