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Indian Energy Exchange Ltd IPO (Indian Energy Exchange IPO) Detail

Oct 9, 2017 - Oct 11, 2017

Incorporated in 2007, Indian Energy Exchange Ltd (IEX) is a 'power exchange' offering trading in a range of electricity products in India. IEX is India's largest exchange in electricity products trading category. IEX Exchange is an online trading platform which is accessible to registered participants. It promotes efficient price discovery and the opportunity to trade in a variety of electricity products. In addition to trade execution, IEX also offers settlement services, including electronic trade confirmation, access to clearing services and risk management functionality.

At high level, the products offered by IEX for trading include:

1. DAM (Day-ahead-market) - Electricity contracts in blocks of 15 minutes. The DAM constitutes the majority of the energy contracts that are traded on IEX. IEX has market share of 99.6% in DMA trading.

2. TAM (Term-ahead-market) - Electricity contracts for fixed terms in the future, such as intra-day contracts, day ahead contingency contracts and contracts up to 11 days ahead and

3. RECs (Renewable energy certificates)

IEX is amoung 2 exchanges in India that offer an electronic platform for the trading of electricity products. IEX has over 5800 participants registered on its Exchange of which over 3,500 participants were active as of March 2017.


Strengths

1. IEX Exchange is an online platform. Highly scalable and proven technology infrastructure.
2. IEX is first and largest energy exchange in India with strong brand recognition.
3. India is fast growing domestic market
4. IEX has diverse participant base ensuring liquidity on its exchange

Company Promoters:

Indian Energy Exchange Ltd is a professionally managed company and does not have an identifiable promoter in terms of SEBI ICDR Regulations and the Companies Act, 2013.

Company was initially promoted by Financial Technologies (India) Limited and PTC India Financial Services Limited (PFS). They currently hold no Equity Shares in the company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 5,517.14 4,237.55 4,057.37 3,688.67 2,822.16
Total Revenue 2,374.23 2,001.40 1,763.78 1,739.90 1,383.65
Profit After Tax 1,135.65 1,003.40 900.18 919.45 662.96

Objects of the Issue:

The objects of the public issue are:

1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. To carry out the sale of up to 6,065,009 Equity Shares by the Selling Shareholders.

Issue Detail:

  »»  Issue Open: Oct 9, 2017 - Oct 11, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 6,065,009 Equity Shares of Rs 10 aggregating up to Rs 1,000.73 Cr
    ›  Offer for Sale of 6,065,009 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 1645 - Rs 1650 Per Equity Share
  »»  Market Lot: 9 Shares
  »»  Minimum Order Quantity: 9 Shares
  »»  Listing At: BSE, NSE

Indian Energy Exchange IPO Reviews:

  1. Indian Energy Exchange Ltd IPO review by Dilip Davda

Indian Energy Exchange IPO Recommendations:

Capital Market Review

Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIITotal
Shares Offered / Reserved1,213,002909,7522,122,7544,245,508
Day 1 - Oct 9, 2017 17:00 IST0.01000.01000.30000.1500
Day 2 - Oct 10, 2017 17:00 IST0.01000.06000.84000.4300
Day 3 - Oct 11, 2017 21:20 IST2.55660.84662.60862.2824

Indian Energy Exchange IPO Prospectus

Indian Energy Exchange IPO Rating

1206
4.1
Rating:Rated 4.1 stars

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Indian Energy Exchange IPO Listing Date

  •   ›  Listing Date: Monday, October 23, 2017
  •   ›  BSE Script Code: 540750
  •   ›  NSE Symbol: IEX
  •   ›  Listing In: B Group of Securities
  •   ›  ISIN: INE022Q01012
  •   ›  Issue Price: Rs 1650 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price:
Open:
Low:
High:
Last Trade:
Volume:
BSE
Rs 1,650.00
Rs 1,500.00
Rs 1,500.00
Rs 1,658.00
Rs 1,626.45
605,304
NSE
Rs 1,650.00
Rs 1,500.00
Rs 1,500.00
Rs 1,660.00
Rs 1,629.15
3,345,798

Indian Energy Exchange IPO News Alerts

  1. Monday, October 23, 2017 12:00:00 AM
    Indian Energy Exchange Ltd IPO - Listing
  2. Wednesday, October 11, 2017 12:00:00 AM
    Indian Energy Exchange Ltd IPO - Close
  3. Monday, October 9, 2017 12:00:00 AM
    Indian Energy Exchange Ltd IPO - Open

Company Contact Information

Indian Energy Exchange Ltd
Unit No. 3, 4, 5 and 6, Fourth Floor,
TDI Centre, Plot No. 7, District Centre,
Jasola, New Delhi 110 025
Phone: +91 11 4300 4000
Fax: +91 11 4300 4015
Email: compliance@iexindia.com
Website: https://www.iexindia.com/

Indian Energy Exchange IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: einward.ris@karvy.com
Website: http://karisma.karvy.com

Indian Energy Exchange IPO Lead Manager(s)

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Indian Energy Exchange IPO Review / Comments

avatar
810. Ravi Ostwal  Dec 6, 2017 9:41:32 AM IST I Like It. | Report Abuse Reply
This IPO is giving me a headache.
avatar
809. purvsah  Nov 30, 2017 11:33:33 AM IST I Like It. | Report Abuse Reply
i have 4 lots of IEX .expert please your opinion for hold or sell ???
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808. Koustav Mazumdar  Nov 28, 2017 4:21:22 PM IST I Like It. | Report Abuse Reply
If you not sold it yet, sell it now and book loses against other STCG. You can buy it at a lower price and hold it for a long time. I do no see any significant upstick in near future.
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807. GAGAN GUPTA  Nov 21, 2017 11:15:38 AM IST I Like It. | Report Abuse Reply
sir provide any feedback INDIAN ENERGY EXCHANGE LIMITED i should hold or sell pls suggest
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806. M Learner  Nov 21, 2017 2:30:42 AM IST I Like It. | Report Abuse Reply
@Gamble ji & @ Septa Ji
What to do about IEX sell or hold.
Will it cross it''s issue price within 6 months ??
Pleaese provide your valuable reviews & Thanks in advance.
avatar
805. Kartikdevd  Nov 16, 2017 6:40:51 PM IST I Like It. 1 | Report Abuse Reply
Book loss though company in power sector which is mostly not rewarding, look Suzlon worlds best company IPO 900 now available at 12 which will go to 5. IEX is in niche segment like MCX, BSE, NSE, NCDEX, Gold bonds. Sell now buy near 1000-1100 sell again at 1350-1400.
avatar
804. P M  Nov 16, 2017 6:02:02 PM IST I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Today makes new all time low ---------- 1488.05
avatar
803. Hari S  Nov 16, 2017 4:53:37 PM IST I Like It. | Report Abuse Reply
Friends after the poor listing and the consistent performance of this share in going down could anybody suggest a good time enter this stock. Its a good company with great growth potential and I believe its a gud''un to have in your portfolio.

Experts @gamble, @septa, @eagleye any valuable suggestions please on this? Thanksa lot. Cheers
avatar
802. Mathews  Nov 12, 2017 10:54:55 AM IST I Like It. 1 | Report Abuse Reply
I also feel that Khadim had a surprise element in its listing compared to Insurance companies. There are still money is to be made from leather, rubber and PVC in India compared to Europe where stringent environmental safeguards are there. Look how specialty chemical companies took off in India when stringent norms were brought out in China.
Disclosure : Got 1/1. Yet to research the Company. I am only talking about the surprise element comparable in cricket to Hardik Pandya when Virat and Dohini still around!!!
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801. Babyboy  Nov 9, 2017 9:12:03 PM IST I Like It. | Report Abuse Reply
I have 2 lot of it I sell it or wate
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800. MickeyP  Nov 9, 2017 11:14:18 AM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
avatar
800.1. MickeyP  Nov 9, 2017 11:15:14 AM IST I Like It. 1 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
At present, foreign corporate bodies together hold 22.9% in Indian Energy Exchange (IEX), which accounts for over 95% of the exchange-traded electricity market in the country. Two of these investors — Westbridge Crossover Fund and Rimco (Mauritius) — hold 4.75% and 4.5% in IEX, respectively, just below the 5% threshold allowed for each foreign investor.

The finance ministry’s opposition comes at a time when the short-term power market, in which exchanges have a sizable share, is expected to rise at a compounded annual growth rate of 20% between FY17 and FY22, according to a Crisil report. As such, the share of power exchanges in short-term volumes market has more than tripled in the last 7 years — to 34.5% in FY17 from 10.9% in FY10.
avatar
800.2. MickeyP  Nov 9, 2017 11:16:07 AM IST I Like It. 1 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
The finance ministry’s opposition comes at a time when the short-term power market, in which exchanges have a sizable share, is expected to rise at a compounded annual growth rate of 20% between FY17 and FY22, according to a Crisil report. As such, the share of power exchanges in short-term volumes market has more than tripled in the last 7 years — to 34.5% in FY17 from 10.9% in FY10.
avatar
799. MickeyP  Nov 9, 2017 10:46:44 AM IST I Like It. 2 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Seems the IEX quarterly result couldn''t generate any interest in the stock. Key highlights of the result :

1. Indian Energy Exchange reported 8 per cent increase in its standalone net profit to Rs 32.65 crore in the quarter ended September 30.
2. the company''s total income was Rs 61.09 crore in the quarter under review compared to Rs 61.87 crore in the same period last year.
3. The revenue from the power business rose to Rs 55.81 crore in the quarter from Rs 50.79 crore a year ago.
4. Its standalone net profit in April-September period this fiscal rose to Rs 64.03 crore from Rs 57.91 crore a year ago.
avatar
798. rvshah  Nov 7, 2017 9:11:47 AM IST I Like It. | Report Abuse Reply
i sold 4 shares of iex at 1604 , now 5 shares remaining....should i sold it today? or wait for 1700 ??? any suggestions pls
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798.1. Vishal Gandhi  Nov 7, 2017 1:39:55 PM IST I Like It. | Report Abuse
quarterly result announce on 8th Nov 2017, you can wait till date.
avatar
797. TheGreatGambler  Nov 5, 2017 12:58:18 AM IST I Like It. 2 | Report Abuse Reply
Surprised at the way market treated IEX , Dixon and Pratap Snacks , even though IEX had a VERY GOOD PAT and second best EPS & P/E among the three.
IEX Slowly moving towards IPO Price
Dixon currently below the listing days low
Pratap Snacks moving towards listing day low
Stock----------------No of shares----Value(Cr)--------PAT(%)-----IPO Price/FV--No of times sub-------Listing(H/L)----------Current--------EPS(FY17)-------P/E
IEX 60,65,009 1000.09 47 1650/10 2.28 1660/1500 1592.30 37.78 43.6X
Dixon 30,53,675 599.30 2.8 1766/10 117.83 3024/2725 2685.35 45 39X
PratapSnacks 36,27,518 481.94 1 938/5 47.39 1318.80/1133.70 1173.60 4.77 196X
avatar
797.1. MickeyP  Nov 6, 2017 1:39:23 PM IST I Like It. 1 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Good observation TheGreatGambler! Thank you for sharing this.

IEX will announce results on 8th November. Dixon will announce results on November 14th. Prataap snacks board meeting date is not yet finalized. It would be interesting to see how these stocks move after announcing their first quarterly result post listing!
avatar
796. MickeyP  Nov 2, 2017 11:32:36 AM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
As per latest investor presentation uploaded on IEX website. IEX paid rs 45/share for the last financial year(10 rs interim + 35 final). IEX paid the final dividend of rs 35/share in the month of august 2017 to its previous shareholders. so I`m not sure if they`ll announce any interim dividend now.. but let us see, hoping for a good result...
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796.1. Mathews  Nov 4, 2017 6:11:22 PM IST I Like It. 2 | Report Abuse
Dear MickeyP : is there any sense in comparing the dividend before and after the IPO. Before the IPO, the promoters and venture capitalists were taking out the profit in the form dividend. Now their holdings and lesser, so naturally the Board will recommend lesser dividend this time. Mark my statement.
avatar
796.2. MickeyP  Nov 6, 2017 1:31:35 PM IST I Like It. 4 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Dear Mathews, thanks for your views. As I posted earlier I''m not expecting any dividend in this quarter and also I never mentioned that they will pay good dividends like they used to do before IPO. I just posted the fact that they paid rs 45 dividend in the last financial year, which I got from investor presentation. Thank you.
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795. Mr Bhatia  Nov 6, 2017 10:04:48 AM IST I Like It. | Report Abuse Reply
Shall i hold my allotment in IEX or book the loss
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794. CaptSingh  Nov 4, 2017 6:54:59 PM IST I Like It. | Report Abuse Reply
Can I sell my applications in Mumbai (Western suburbs) under Kostak?
avatar
793. rvshah  Nov 2, 2017 9:54:53 PM IST I Like It. | Report Abuse Reply
kya lagta he? IEX 1650 tk jayega? in this month? any idea? i have 1 lot and i m thinking to sell it on loss.
should i hold it or sold it?
pls suggest
avatar
792. MickeyP  Nov 2, 2017 11:30:14 AM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
IEX will announce it''s quarterly result on November 8th 2017
avatar
791. MickeyP  Nov 2, 2017 11:29:07 AM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
very good delivery percentage for IEX yesterday!! it`s 49.85% on BSE and a superb 88.20% on NSE!!!
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