Indian Energy Exchange Limited Buyback 2018
INDIAN ENERGY EXCHANGE LIMITED (IEX) is India’s premier power trading platform. Providing an automated platform for physical delivery of electricity, IEX enables efficient price discovery and offers participants the opportunity to trade in a variety of energy products.
The exchange platform increases the accessibility and transparency of the power market in India and enhances the speed and efficiency of trade execution.
Today, more than 6200 participants are registered on the exchange and are located across utilities from 29 States, 5 Union Territories (UTs). Over 4,500 registered participants were eligible to trade electricity contracts and over 4,100 registered participants were eligible to trade RECs, as of March 2018. Out of participants registered to trade electricity contacts include 54 distribution companies, over 480 electricity generators, and over 4,000 open access consumers.
As of March 2018 in addition to participants who traded electricity contracts, participants registered to trade RECs included over 1,050 renewable energy generators and over 3,000 industry and corporate customers. The benefiting open access consumers belong to various industries such as metal, food processing, textile, cement, ceramic, chemicals, automobiles, information technology industries, institutional, housing, and real estate and commercial entities.
In August 2016, IEX received three ISO Certifications – ISO 9001:2008 for quality management, ISO 27001:2013 for Information security management and ISO 14001:2004 for environmental management.
Buy Back Offer Deal:
|Buyback Type:||Tender offer|
|Buyback Offer Amount:||₹ 69 Cr|
|Date of Board Meeting approving the proposal:||Dec 20 2018|
|Date of Public Announcement:||Dec 20 2018|
|Buyback Offer Size:||1.23%|
|Buyback Number of Shares:||3,729,729|
|Buyback Price:||₹ 185 Per Equity Share|
Details of Buyback:
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||1,80,540||1,80,540||1,80,540||1,80,540|
|No. of Shares buyback||356||540||810||1081|