Mumbai, 1 October , 2017 (GPN) : Indian Energy Exchange Limited (the “Company” or “Issuer”) proposes to open on Monday, October 9, 2017, an initial public offering of up to 6,065,009 Equity Shares of face value of Rs.10 each (“Equity Shares”) for cash at a price band from Rs. 1,645 to Rs. 1,650 per Equity Share, through an offer for sale by the persons listed in Annexure A of the Red Herring Prospectus dated September 26, 2017 (the “RHP”), (the “Selling Shareholders”), (the “Offer”). The Offer would constitute up to 20% of the post-Offer paid up Equity Share Capital of the Company.
The Price Band for the Offer is fixed from Rs. 1,645 to Rs. 1,650 per Equity Share. Bids can be made for a minimum of 9 Equity Shares and in multiples of 9 Equity Shares thereafter. The Bid/ Offer will close on Wednesday, October 11, 2017.
The Company may, in consultation with the Book Running Lead Managers (“BRLMs”), consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”). The Anchor Investors shall Bid during the Anchor Investor Bid/ Offer Period, i.e., one Working Day prior to the Bid/ Offer Opening Date.
The Equity Shares offered through the RHP are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).
The Offer is being made in accordance with Regulation 26(1) of the SEBI ICDR Regulations through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that the Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors (the “Anchor Investor Portion”) on a discretionary basis. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders, other than Anchor Investors, shall mandatorily participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”). Anchor Investors are not permitted to participate in the Anchor Investor Portion through ASBA process.ENDS
The RHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the Book Running Lead Managers at www.axiscapital.co.in, www.investmentbank.kotak.com and www.iiflcap.com, respectively.