IPO Guru
HPX India
₹28.00
▼ 6.7% 1M
HPX India
Energy Power Exchange

HPX India Unlisted Shares

Hindustan Power Exchange

Hindustan Power Exchange (HPX), formerly known as Pranurja Solutions Limited, is India's third licensed power exchange operating under CERC approval since July 2022. Promoted by PTC India Limited, BSE Investments Limited, and ICICI Bank, HPX provides a transparent, technology-driven marketplace for electricity products including Day-Ahead Market (DAM), Term-Ahead Market (TAM), and Green Market segments, enabling efficient power procurement and price discovery across India's short-term power market.

INDICATIVE PRICE
₹28 .00
▼ 6.67% · 1 Month
52W Low
₹26.00
₹28.00
52W High
₹39.00
Face Value
₹1
ISIN
INE07WD01012
Price History

HPX India Price Chart

Current
₹28.00
Period Change
-6.67%
High
₹30.00
Low
₹28.00
About

HPX India — the company.

Hindustan Power Exchange (HPX), formerly known as Pranurja Solutions Limited, is India's third licensed power exchange operating under CERC approval since July 2022. Promoted by PTC India Limited, BSE Investments Limited, and ICICI Bank, HPX provides a transparent, technology-driven marketplace for electricity products including Day-Ahead Market (DAM), Term-Ahead Market (TAM), and Green Market segments, enabling efficient power procurement and price discovery across India's short-term power market.
IPO Outlook

When’s the HPX India IPO?

HPX is backed by marquee promoters — PTC India, BSE, and ICICI Bank — and has turned profitable with strong revenue growth. An IPO remains a medium-term possibility once the exchange scales its market share further against incumbents IEX and PXIL.
Ownership

Shareholding.

Psus
20%
Promoters
65%
Other Investors
15%
Leadership

Management team.

N
Niraj Nabh Kumar
Director
Experienced power sector executive.
D
Deepak Goel
Director
Finance and strategy professional.

Strengths

  • +Promoted by PTC India, BSE & ICICI Bank — strong institutional backing
  • +India's third CERC-licensed power exchange — structural market opportunity
  • +Turned profitable in FY24 with PAT of ₹15 Cr after prior losses
  • +Revenue surged 135% YoY to ₹36.4 Cr in FY24
  • +Technology-driven platform offering DAM, TAM, and Green Market products
!

Risks

  • Dominated by IEX with 90%+ market share — tough competitive landscape
  • Regulatory dependence on CERC for market design and product approvals
  • Early-stage growth; sustained profitability yet to be proven
  • Power sector policy changes could impact short-term market volumes
!

Important Disclaimer

Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.

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