IEX is the country’s first and biggest automated trading platform for physical electricity distribution. The Renewal Energy Certificate (REC) and Energy Saving Certificate (ESC) markets are conducted by Indian Energy Exchange (IEX), which holds a licence from the Central Electricity Regulatory Commission (CERC) (ESCerts). The company’s primary business is providing an automated platform and infrastructure for trading in electricity units for the actual delivery of electricity.
The exchange, which has more than 7,300 registered users from 36 States and Union Territories, promotes effective price discovery, expands the electricity market’s accessibility and transparency, and speeds up trade execution. 57 distribution firms, more than 620 power producers, and more than 4645 open access users are among its partners.
IEX Share Buyback 2023 Details
| Buyback Dates | 11 January – 10 July 2023 |
| IEX Buyback Price | INR 200 per share |
| Market Price on Buyback Approval | INR 150.40 per share |
| Buyback Premium on Market Price | 32.98% |
| Buyback Offer Size (Shares) | 49,00,000 shares |
| Buyback offer as % of total shares | 0.55% |
| Buyback Offer Size (Amount) | INR 98 crore |
| Offer Type | Open Market |
| Promoter Participation | No |
| Face Value | INR 1 per share |
| Listing At | BSE, NSE |
IEX Buyback Dates
| Board Meeting for Buyback Proposal | 25 November 2022 |
| Buyback Approval Date | 25 November 2022 |
| Public Announcement of Buyback | 3 January 2023 |
| IEX Buyback Record Date | Not Applicable |
| Buyback Opening Date | 11 January 2023 |
| Buyback Closing Date | 10 July 2023 |
| Cut-off Date to receive completed tender forms by Registrar | Coming soon |
| Verification Date by the Registrar | Coming soon |
| Return of unaccepted shares by Registrar | Coming soon |
| Extinguishment of accepted shares | Coming soon |
Objects of the Issue
The Buyback is being undertaken for the following reasons:
- The Buyback gives the Company an opportunity to distribute surplus cash to its shareholders.
- The buyback may help in improving return on equity and other financial ratios, by a reduction in the equity base, thereby leading to a long-term increase in shareholders’ value.
- The buyback gives an option to the existing equity shareholders to participate in the Buyback and receive cash in lieu of equity shares.
IEX Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Total Income | 257.03 | 317.11 | 425.55 |
| Total Expenses | 54.12 | 59.73 | 61.95 |
| Net income | 177.92 | 213.49 | 302.51 |
IEX Buyback 2022 Documents
Offer Letter
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
Company Contact Information
Indian Energy Exchange Ltd
First Floor, Unit No. 1.14(a),
Avanta Business Centre, Southern Park,
D-2, District Centre, Saket, New Delhi – 110017
Phone: 0120 – 4648100
Email: contact@iexindia.com
Website: https://www.iexindia.com/default.aspx
Indian Energy Exchange Buyback Registrar
- KFin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://karisma.kfintech.com/
Indian Energy Exchange Buyback Manager
Lead Manager(s)
- IIFL Securities Ltd
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