Indian Energy Exchange

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Indian Energy Exchange
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Founded 2008
Headquarters New Delhi, India
Key People Satyanarayan Goel, managing director and CEO
Products futures
Website http://www.iexindia.com

Indian Energy Exchange (IEX) is a power and energy-related market which offers physical delivery of electricity. Launched on June 27, 2008, the exchange provides several electricity trading offerings including a day-ahead market, term-ahead market for up to 11 days, Renewable Energy Certificates or RECs and energy saving certificates on the Indian market.

The company, the largest energy market in India, plans to go public on October 9, 2017, selling 6.06 million shares. The exchange has several large companies invested in it, including Tata Power Co., which was set to sell all of its 1.25 million shares in the IPO. The IPO was expected to raise 10 billion rupees, ($152.9 million).[1][2]

It has more than 5,800 participants on its market from 29 Indian states and 5 union territories.

Background

The IEX was granted approval to operate as an automated electronic trading exchange by the Central Electricity Regulatory Committee (CERC), on June 9 2008. It was initially founded by Financial Technologies but it was forced to divest its 26 percent stake in the company after regulators ruled it the firm was not fit to run any exchanges in 2013. The exchange still runs on FT's exchange trading platform technology, however. [3][4][5][6]

IEX is the third Indian exchange to go public after the Multi Commodity Exchange of India in 2012 and Bombay Stock Exchange, or BSE in February 2017.[7]

Key people

Satyanarayan N. Goel managing director and chief executive officer

Dinesh Kumar Mehrotra chairman

Rajesh Kumar Mediratta director, business development

Akhilesh Awasthy director, market operations

References

  1. Introduction. Indian Energy Exchange.
  2. Indian Energy Exchange IPO to raise up to $152.9 mln. Reuters.
  3. Indian Energy Exchange celebrates 1 year of its successful operations. EnergyBangla.com.
  4. Event: 2nd India Power Awards 2009. Indian Energy Exchange.
  5. PFS opposes Indian Energy Exchange’s proposed Rs 108 crore tech deal with FTIL. EnergyBangla.com.
  6. Event: 2nd India Power Awards 2009. Indian Energy Exchange.
  7. Indian Energy Exchange files for IPO; Multiples, Aditya Birla PE to partially exit. VCircle.

Category: exchanges