Indian Energy Exchange files for IPO

PE-backed Indian Energy Exchange Limited, the country’s first exchange for trading of electricity and renewable energy certificates, has filed its draft red herring prospectus with SEBI for an IPO. The IPO comprises the sale of 6.06 million shares through a secondary offering by existing shareholders, including PE backers, power companies and financial institutions. The total issue size is estimated at Rs 6 billion-Rs 6.5 billion ($93 million-$100 million). The company is not raising any fresh capital from the IPO.