Indian Energy Exchange Buyback – Letter of Offer, Record Date, Price

Indian Energy Exchange Buyback 2019 IEX

Indian Energy Exchange has announced the buyback of equity shares from the shareholders at a price of Rs 185 per equity share. The record date for this buyback offer is 15th February 2019. This offer starts on 22nd March 2019 and it ends on 4th April 2019. The board meeting of the company was held on 20th December 2018 in which this buyback was approved by the board of directors. The last date for the extinguishment of equity shares is scheduled as 2nd April 2019. This article provides information about Indian Energy Exchange Buyback offer 2019.

The Indian Energy Exchange Buyback (IEX) is an electronic system based power trading exchange in India. It is regulated by the Central Electricity Regularity Commission (CERC). It was incepted in the year 2008. It focuses on the development of power trading in India by providing an electronic platform for trading by various participants of the power market. It has over 3,800 registered clients, over 300 private generators and more than 3,300 industrial electricity consumers

Indian Energy Exchange Buyback – Offer Details
Offer Type Buyback of Fully Paid-up Equity Shares
Record Date 15th February 2019
Buyback Offer Starts 22nd March 2019
Buyback Offer Ends 4th April 2019
Number of Shares 37,29,729 Equity Shares
Face Value Rs 10
Buyback Price Rs 185 per equity share
Maximum Buyback Size Rs 69,00,00,000
Broker of the Company IIFL Securities Limited
Designated Stock Exchange BSE
Last Date of Extinguishment of Shares bought back 22nd April 2019
Indian Energy Exchange Buyback – Necessity of the Buyback

According to the company, the following are the key objectives of this buyback:-

  1. To distribute surplus cash to the shareholders in order to enhance the overall return to shareholders.
  2. To benefit the small shareholders through a reservation of up to 15%  for them in this buyback.
  3. It will improve the financial ratios such as earning per share and return on equity.
  4. It gives the options to the shareholders that either participate in the buyback offer and get cash in lieu of shares or do not participate in the buyback offer and avail the increased rates of shares.
IEX Buyback – Shareholding Pattern

Click here to see the shareholding pattern of the Indian Energy Exchange.

IEX Buyback – Company Financials

Click here to see the financial summary of the IEX.

Indian Energy Exchange Buyback – Manager of the Buyback

Manager of the IEX Buyback is IIFL Holdings Limited.

Email: iex.buyback@iiflcap.com

Indian Energy Exchange Buyback – Registrar of the Buyback

Registrar of the IEX Buyback offer is Karvy Fintech Private Limited.

Email: iex.buyback@karvy.com

Indian Energy Exchange Buyback – How to Participate
  1. You must have the equity shares of Indian Energy Exchange bought before the record date, either in demat or in physical form.
  2. Follow the instructions given in the letter of offer.
  3. Participate in the offer through your stockbroker of which you are having the demat account.
  4. Wait till the last date of extinguishment. 
  5. Either 100% of your participated shares will be bought by the company or it may be fractional.
  6. For bought shares, you will receive the cash in your demat and if some shares are not bought, you will get the remaining shares in your demat account.
Indian Energy Exchange Buyback – Letter of Offer

Please click here to read the letter of offer of this buyback by Indian Energy Exchange.

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