IEX’s IPO oversubscribed by 2.28 times

The Indian Energy Exchange’s IPO that opened for subscription on October 9, 2017 received bids for 12.05 million shares on the third and final day of bidding and was over subscribed by 2.28 times. The board of directors had allocated 0.79 million equity shares at Rs 1,650 per share to 23 anchor investors including SBI Mutual Fund (MF), Birla Sunlife MF, ICICI Prudential MF, and Nomura. The price band of the IPO has been fixed at Rs 1,645-Rs 1,650 per share. The IPO subscription closed on October 11, 2017.

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