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Indian Energy Exchange IPO to raise up to $152.9 mln

Kitco News

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)

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