Indian Energy Exchange IPO

Indian Energy Exchange IPO

Indian Energy Exchange IPO

Business description from prospectus - Indian Energy Exchange is the largest exchange for the trading of a range of electricity products in India, in terms of traded contract volumes in the financial year 2017 according to the Central Electricity Regulatory Commission (CERC). Electricity products traded over its electronic trading platform comprise (i) electricity contracts in blocks of 15 minutes in the day-ahead-market (the “DAM”), (ii) electricity contracts for fixed terms in the future, such as intra-day contracts, day ahead contingency contracts and contracts up to 11 days ahead, known as the term-ahead-market (the “TAM”) and (iii) renewable energy certificates (“RECs”). The company has commenced the trading of energy saving certificates (ESCerts) on its Exchange on September 26, 2017.

It is one of two exchanges in India that offer an electronic platform for the trading of electricity products and has a substantial majority market share among the power exchanges in India. The DAM constitutes the substantial majority of the energy contracts that are traded on our Exchange. In the financial years 2016 and 2017, it commanded a 99.6% and 99.4% market share, respectively, of electricity contracts in the DAM, in terms of volume, according to the CERC. According to the CERC, in the financial years 2016 and 2017, 93.7% and 94.8% of the traded contract volumes of electricity contracts in the DAM, TAM and RECs combined, were conducted over its Exchange.

Indian Energy Exchange IPO details
Subscription Dates9 - 11 October 2017
Price BandINR1,645 - 1,650 per share
Fresh issueNil
Offer For Sale6,065,009 shares (INR997.69 - 1,000.72 crore)
Total IPO size6,065,009 shares (INR997.69 - 1,000.72 crore)
Minimum bid (lot size)9 shares
Face Value INR10 per share
Retail Allocation35%
Listing OnNSE, BSE
Indian Energy Exchange's financial performance (in INR crore)
FY2013FY2014FY2015FY2016FY2017Q1 FY2018
Total revenue138.4174.0176.4200.1237.461.7
Total expenses38.641.143.953.564.214.8
Profit after tax66.391.990.0100.3113.630.6

Indian Energy Exchange Contact Details

Indian Energy Exchange Limited 
Unit No. 3, 4, 5 and 6, Fourth Floor
TDI Centre, Plot No. 7, District Centre
Jasola, New Delhi 110 025

Phone: +91 11 4300 4000
Fax: 
+91 11 4300 4015
Email:
[email protected]
Website: www.iexindia.com

Registrar of Indian Energy Exchange IPO

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551 
Email:
 [email protected]
Website: www.karvycomputershare.com

Valuation of Indian Energy Exchange (Based on latest FY)

Earnings Per Share (EPS): INR37.66

Price/Earnings (P/E) ratio: 43.68 - 43.81

Return on Net Worth (RONW): 41.3%

Net Asset Value (NAV): INR94.92 per share

Indian Energy Exchange IPO Subscription Details

CategoryShares offeredSubscription (no. of times, at 5 PM)
Day 1Day 2Day 3
QIB2,243,3830.010.012.55
NII909,7520.010.050.84
Retail2,122,7540.290.832.37
Total4,245,5080.15 0.432.18

Indian Energy Exchange IPO Allotment Status

Indian Energy Exchange IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status. You can also check allotment status using application number on this link.

LISTING PERFORMANCE OF Indian Energy Exchange

IPO Opening Date: 9 October 2017

IPO Closing Date: 11 October 2017

Finalisation of Basis of Allotment: 17 October 2017

Initiation of refunds: 17 October 2017

Transfer of shares to demat accounts: 18 October 2017

Listing Date: 23 October 2017

Listing Price on NSE: INR1,500 per share (down 9.1% from IPO price)

Closing Price on NSE: To be updated

12 COMMENTS

  1. Revenue growth reaching plateau. Profit growth rate declining. P/E=44, P/NAV=16. No fresh issue. How does it compare with PTC India (wondering?? P/E=11)?

    PROFESSIONALLY MANAGED COMPANY AND DOES NOT HAVE AN IDENTIFIABLE PROMOTER. Profit Margin=50%

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