Last updated on January 3, 2023
IEX Buyback 2022 description – IEX is India’s first and largest energy exchange for nationwide, automated trading platform for physical delivery of electricity. Indian Energy Exchange (IEX) is licensed by the Central Electricity Regulatory Commission (CERC) for spot trading in power / electricity and trading of Renewal Energy Certificate (REC) and Energy Saving Certificates (ESCerts). The main activity of the company is to provide an automated platform and infrastructure for carrying out trading in electricity units for physical delivery of electricity.
With over 7,300 registered participants from 36 States and Union Territories, the exchange enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution. Among its participants are 57 distribution companies, over 620 electricity generators, and over 4645 open access consumers.
The exchange allows transcations in various segments including Day Ahead Market (DAM), Green – Day Ahead Market, Term Ahead Market (TAM), Renewable Energy certificate (Rec), Energy Saving certificates (Eserts), and enjoys monopoly status in all of these segments.
IEX Share Buyback 2022 Details
|Buyback Dates||11 January – 10 July 2023|
|IEX Buyback Price||INR 200 per share|
|Market Price on Buyback Approval||INR 150.40 per share|
|Buyback Premium on Market Price||32.98%|
|Buyback Offer Size (Shares)||49,00,000 shares|
|Buyback offer as % of total shares||0.55%|
|Buyback Offer Size (Amount)||INR 98 crore|
|Offer Type||Open Market|
|Face Value||INR 1 per share|
|Listing At||BSE, NSE|
IEX Buyback Dates (Timeline)
|Board Meeting for Buyback Proposal||25 November 2022|
|Buyback Approval Date||25 November 2022|
|Public Announcement of Buyback||3 January 2023|
|IEX Buyback Record Date||Not Applicable|
|Buyback Opening Date||11 January 2023|
|Buyback Closing Date||10 July 2023|
|Cut-off Date to receive completed tender forms by Registrar||Coming soon|
|Verification Date by the Registrar||Coming soon|
|Return of unaccepted shares by Registrar||Coming soon|
|Extinguishment of accepted shares||Coming soon|
IEX Buyback 2022 Documents
IEX Buyback Entitlement Ratio
There is no shareholder entitlement since the buyback will be conducted through open market purchases.
IEX Financial Performance
|FY 2020||FY 2021||FY 2022|
Registrar of IEX Buyback 2022
Manager of IEX Buyback 2022
Process to Participate in IEX Buyback
Buybacks are conducted either through open market or through a tender process.
Through Tender Process
All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stock broker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.
The shareholder must transfer the tendered shares to the clearing corporation’s special account. In turn, the broker would place a buyback order on the stock exchange.
The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After document verification is complete, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.
Through Open Market
Investor shareholders don’t have to do anything as the company purchases shares through the open market at the prevailing rates and cancels the shares. Since the shares in circulation are reduced by these operations, the fair value of the remaining shares increase, effectively making them more valuable.
Frequently Asked Questions
When does IEX share buyback offer open?
Indian Energy Exchange share buyback opens on 11 January 2023 and closes on 10 July 2023.
Which type of buyback is IEX buyback offer?
Indian Energy Exchange buyback is an open market offer.
What is IEX buyback price?
IEX buyback price is INR 200 per share.
What is IEX buyback record date?
IEX buyback record date is Not Applicable.
How to participate in Indian Energy Exchange buyback?
Indian Energy Exchange buyback will be conducted through open market purchases and thus investors can’t tender their shares.