PE-Backed India Energy Exchange receives SEBI Nod For IPO

PE-Backed India Energy Exchange receives SEBI Nod For IPO

Private equity-backed Indian Energy Exchange Ltd, the country’s first exchange for trading of electricity and renewable energy certificates, has received Securities and Exchange Board of India’s approval to float its initial public offering.

In June, the New Delhi-based company had filed its draft red herring prospectus, which said that the IPO will comprise sale of a 20.83% stake held by existing shareholders.

Citing a person aware of the development, VCCircle had earlier reported that the total issue size will be at Rs 600-650 crore ($93-100 million). Read More…

 

Credit By : VCC Circle

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