Tepid Listing: Indian Energy Exchange debuts at Rs 1,500, slips 9% against issue price

Moneycontrol News

Indian Energy Exchange opened sharply lower at Rs 1,500 on the National Stock Exchange Monday, falling 9 percent against issue of Rs 1,650 per share.

The stock managed to show some recovery from day's low and hit an intraday high of Rs 1,650 (the issue price), but was still trading lower at Rs 1,626, down 1.5 percent.

The Rs 1,001 crore initial public offer was opened for subscription during October 9-11, with a price band of Rs 1,645-1,650 per share.

It had received good response from investors, with the issue getting oversubscribed 2.28 times.

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

The IPO comprised of 60,65,009 equity shares (including anchor portion of 7,89,120 shares).