Indian Energy Exchange shares plunge 9% in debut trade

Shares of Indian Energy Exchange

(IEX) made a weak debut at the bourses today, falling 9 per

cent, 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.

On NSE too it debuted at Rs 1,500.

In terms of equity volume, 4.68 lakh shares of the

company were traded on BSE and over 26 lakh shares changed

hands on NSE during the morning trade.

The company's market valuation stood at Rs 4,940.53

crore.

The 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.

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.)