Off The Wire
Indian Energy Exchange IPO to raise up to $152.9 mln
Sept 29 (Reuters) - Indian Energy Exchange Ltd has set a price range of 1,645-1,650 rupees per share for its initial public offering that opens on Oct. 9, to raise up to 10.01 billion rupees ($152.9 million), according to a public notice on Friday.
Shareholders of the electricity exchange are selling a little over 6 million shares, or 20 percent of the post-issue paid-up capital, in the IPO that closes for subscription on Oct. 11.
Axis Capital, Kotak Mahindra Capital and IIFL Holdings are managing the sale.
($1 = 65.4600 Indian rupees)
(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Gopakumar Warrier)