Indian Energy Exchange makes tepid debut; shares down over 1%

Shares of Indian Energy Exchange

(IEX) made a weak debut on the bourses today and ended over 1

per cent lower against the issue price of Rs 1,650.

The stock listed at Rs 1,500, down 9 per cent from the

issue price on BSE. It finally closed the trading session at

Rs 1,626.45, a loss of 1.42 per cent.

On NSE, it settled at Rs 1,629.15, down 1.26 per cent

from the issue price.

In terms of equity volume, 6.05 lakh shares of the

company were traded on BSE and over 33 lakh shares changed

hands at NSE during the day.

The company's market valuation stood at Rs 4,932.80

crore.

The Rs 1,001-crore initial public offer of IEX was over-

subscribed 2.23 times during October 9-11.

The price band for the offer was fixed at Rs 1,645-1,650

per share.

The IPO was the first by a power exchange in the country.

Axis Capital, Kotak Mahindra Capital Company and IIFL

Holdings managed the company's public issue.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)