IEX IPO
IEX IPO — date, price band, lot size & details 2017
IEX listed on 23 Oct 2017 at ₹1,500, 9.1% below the ₹1,650 issue price.
Indian Energy Exchange (IEX) is India's largest power exchange, offering online trading in a range of electricity products. Its total income was Rs 237.42 crore in FY2017.
Stock price
IEX is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 09 Oct 2017
- Close 11 Oct 2017
- Allotment 16 Oct 2017
- Refund/credit TBA
- Listing 23 Oct 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Oct, 2017 |
|---|---|
| Price Band | ₹1645 – ₹1650 |
| Face Value | ₹10 |
| Lot Size | 9 Shares |
| Issue Size | ₹1000.73 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,850 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 9 shares at the ₹1650 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 9 | ₹14,850 |
| Retail (max) | 13 | 117 | ₹1,93,050 |
| S-HNI (min) | 14 | 126 | ₹2,07,900 |
| S-HNI (max) | 67 | 603 | ₹9,94,950 |
| B-HNI (min) | 68 | 612 | ₹10,09,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It was India's largest exchange for electricity products, with net worth of Rs 305.62 crore.
- 02Total income rose from Rs 176.38 crore in FY2015 to Rs 237.42 crore in FY2017.
- 03Profit after tax rose from Rs 90.02 crore in FY2015 to Rs 113.57 crore in FY2017, nearly half its income.
- 04It had no borrowing and net worth of Rs 305.62 crore on 30 June 2017.
Risks · 5
- 01Power exchange fees and market rules are set by the electricity regulator, which can cut its earnings; profit was Rs 30.63 crore in the June 2017 quarter.
- 02Most power in India is still sold through long term contracts, which limits exchange volumes; total income was Rs 237.42 crore in FY2017.
- 03A new rival exchange could take market share from it; total assets were Rs 460.53 crore.
- 04The whole Rs 1,000.73 crore issue was an offer for sale, so none of it went to the company.
- 05It has no identifiable promoter, so control rests with institutional shareholders; profit was Rs 100.34 crore in FY2016.
Three years of numbers
All figures in ₹ crore, as reported in the IEX offer document.
| Metric | 30 Jun 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 460.53 | 551.71 | 423.76 | 405.74 |
| Total Income | 61.66 | 237.42 | 200.14 | 176.38 |
| Profit After Tax | 30.63 | 113.57 | 100.34 | 90.02 |
| NET Worth | 305.62 | 274.99 | 270.94 | 239.95 |
| Reserves and Surplus | 275.30 | 244.67 | 240.61 | 209.62 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the IEX IPO will be updated shortly.
IEX IPO Anchor Investors
16 anchor investors across 11 fund houses committed ₹130.20 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It is India's largest exchange in the electricity products trading category.
Its online trading platform is open to registered participants and supports efficient price discovery across a variety of electricity products.
The IPO was Rs 1,000.73 crore and was entirely an offer for sale at Rs 1,650, the top of the Rs 1,645 to Rs 1,650 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
IEX IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of IEX?
The current Grey Market Premium is ₹12.5, or 1% over the issue price.
What is the IEX IPO price band?
₹1645 to ₹1650, on a face value of ₹10.
When is the allotment?
The basis of allotment is 16 October 2017, with listing on 23 October 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
