Indian Energy Exchange IPO subscribed 2.28 times

The Indian Energy Exchange’s initial public offering (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 oversubscribed by 2.28 times. Ahead of the opening of the Rs 10.01 billion IPO, 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, Nomura, etc. The price band of the IPO was fixed at Rs 1,645-Rs 1,650 per share. The IPO subscription closed on October 11, 2017.