Indian Energy Exchange Ltd

indian energy exchange

About the Company:

Indian Energy Exchange (IEX) is the Largest exchange for the trading of electricity products in India, in terms of traded contract volumes in the financial year 2017.

Company is one of two exchanges in India that offer an electronic platform for the trading of electricity products and have a substantial majority market share among the power exchanges in India.

Company has over 5,900 participants registered on their Exchange of which over 3,200 participants are active participants.

The participants registered to trade electricity contracts are located across 29 states and five union territories in India, and include 50 distribution companies, over 400 electricity generators and over 3,900 open access consumers.

Currently there are only 2 Companies in the Power Exchange business in India ie. Indian Energy Exchange (IEX) &  Power Exchange India Ltd.

In the financial year 2017, participants traded and cleared 40,528 million kWh of power on our Exchange.

The volumes for the financial year 2017 represent a growth of 77.5% from 22,827 million kWh of power traded on their Exchange in the financial year 2013.

Company’s Product Segments:

  • Day-Ahead Market(DAM) Electricity Contracts.
  • Term-Ahead Market(TAM) Electricity contracts.
  • Renewable Energy Certificates (REC).
  • Energy Saving Certificates (ESCerts).

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Management Team:

  1. Mr.Dinesh Kumar Mehrotra (Designation: Chairman and Independent Director)
  2. Mr.Satyanarayan Goel (Designation: Managing Director and Chief Executive Officer)
  3. Mr.Kayyalathu Thomas Chacko (Designation: Independent Director)


Company Contact Info:
India Energy Exchange Ltd
Unit No. 3, 4, 5 and 6, Fourth Floor
TDI Centre, Plot No. 7
District Centre, Jasola
New Delhi 110 025
Tel: (91 11) 4300 4000;
Fax: (91 11) 4300 4015;


IPO Registrar Info:
Karvy Computershare Private Limited
Karvy Selenium Tower B
Plot 31 and 32, Gachibowli
Financial District, Nanakramguda
Hyderabad 500 032
Tel: (91 40) 6716 2222
Fax: (91 40) 2343 1551
Investor grievance e-mail:


Check IPO Allotment Status:

Karvy Website


Peer Group Companies:

  • There are no listed entities in India whose business portfolio is comparable with Indian Energy Company’s (IEX) business.


Fund Utilization:

  • Since this is a OFS (Offer for Sale) all the proceeds from the IPO will go to the Selling Shareholders.


Positives of the Company:

  • Experienced Management Team.
  • Efficient price discovery and flexibility on their Exchange.
  • First and largest energy exchange in India with strong brand recognition.
  • Fast growing domestic market with conducive Government policies and regulations.
  • Diverse participant base ensuring liquidity on the Exchange.
  • Highly scalable and proven technology infrastructure.


Should you Invest in this IPO?

  • Currently in India there are only 2 Power Exchange companies which means both the companies are in a monopoly position.And we all know in whichever sector if there are only a handful of companies then they are bound to have very good profit margins.
  • It is the same case with IEX, just take a look at company’s profit margins they are operating at around 50% Profit margins and it is only possible because they have around 93% market share in an already monopolised sector.
  • Moreover the company is operating in a very good business and they are growing with each passing year and looking at the prospectus for power sector it is expected that they will continue to have a healthy growth in the future also.
  • Any Company in a monopoly position, along with Good Management, Good Business model, Future Growth prospectus is bound to attract investors.
  • Apart from the above advantages the most important part is that they have a first mover advantage and we can expect institutional investors to invest heavily even after the listing.
  • So Power Yourself with Indian Energy Exchange!!!


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 30th June 17
Revenue 138.36 173.9 176.3 200.1 237.4 61.65
Net Profit 66.2 91.9 90.0 100.3 113.5 30.63


IPO Details:

Details Info
Issue Opens on  9th October 2017
Issue Closes on:.  11th October 2017
Issue Price Rs.1645 – 1650
Face Value Rs.10
Minimum Lot 9
Retail Allocation 35%
Minimum Investment Rs.14850
Issue Constitutes 19.99%
Issue Size Rs.1000 cr
Market Cap Rs.5004 cr
Listing at NSE & BSE
Equity Shares Offered 60,65,009
Equity Shares Prior 3,03,28,624
Equity Shares after the issue 3,03,28,624


Important Dates:

Finalization of Basis of Alottment on or Before 17th October 2017
Initiation of Refunds on or Before 17th October 2017
Credit of Equity Shares: on or Before 18th October 2017
Listing Date: on or Before 19th October 2017


Subscription Details (Will be Updated):

(Subscription-Category-Wise (no. of times) Till time : 06:09 PM) Shares Offered Day-1 Day-2 Day-3
QIB  12,13,002  0.012  0.1  2.5
NII  9,09,752  0.015  0.3  0.84
Retail  21,22,754  0.277  0.44  2.6
Employee  ————  —–  —-  —-
TOTAL  42,45,508  0.149  0.22  2.28


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
37.66 43.81 41.3% 94.92


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
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