Indian Energy Exchange makes tepid debut; ends 1% lower than issue price

Shares of Indian Energy Exchange (IEX) made a weak debut on the bourses on Monday and ended over 1 per cent lower against the issue price of Rs 1,650.

The stock listed at Rs 1,500, down 9 per cent from the issue price on BSE. It finally closed the trading session at Rs 1,626.45, a loss of 1.42 per cent.
 

On NSE, it settled at Rs 1,629.15, down 1.26 per cent from the issue price.

In terms of equity volume, 6.05 lakh shares of the company were traded on BSE and over 33 lakh shares changed hands at NSE during the day.

The company's market valuation stood at Rs 4,932.80 crore.

The Rs 1,001-crore initial public offer of IEX was oversubscribed 2.23 times during October 9-11.

The price band for the offer was fixed at Rs 1,645-1,650 per share.

The IPO was the first by a power exchange in the country.

Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings managed the company's public issue.