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IEX gets Sebi's go-ahead for IPO

New Delhi: Indian Energy Exchange (IEX) has received the approval of capital markets regulator Sebi to float an initial public offer.

The company had filed IPO papers with Sebi in June and got 'observations' from it on August 14, which is necessary for a company to launch the public offer, as per the latest update with the markets watchdog.
The IPO will see sale of 6,065,009 equity shares by existing shareholders including Tata Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Renuka Ramnath-led Multiples Alternate Asset Management.
Besides, AF Holdings, Kiran Vyapar Ltd, Golden Oak (Mauritius) Ltd and IEX's former chief executive Jayant Deo, would offload shares in the public issue, according to the draft red herring prospectus (DRHP).
Established in 2008, IEX is India's first power exchange providing automated trading platform for electricity(for physical delivery) and renewable energy certificates.
The IPO is being managed by Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings. The shares are proposed to be listed on BSE and National Stock Exchange (NSE).
Asia Index changes Dividend Stability Index methodology
Mumbai: Asia Index has partially changed the methodology to select constituents of S&P BSE Dividend Stability Index -- which tracks performance of companies from S&P BSE LargeCap that have followed a policy of increasing or stable dividend income for at least 7 out of 9 years. Under the revised methodology, a company's annual dividends per share (DPS)/ par value per share (PVPS) for the past two years must be at least 10 per cent, to be eligible for selection under S&P BSE Dividend Stability Index.

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