Indian Energy Exchange Ltd (IEX) was incorporated in 2007 as a power exchange offering, trading in a range of electricity products in India. It is an online trading platform which is accessible to registered participants.
IEX brings together sellers of power such as independent power producers, captive power plants, distribution companies and government owned power generation companies and buyers such as discoms, industrial, commercial and institutional power consumers and provides them with a transparent automated platform for trading of electricity. In addition to trade execution, IEX also offers settlement services, including electronic trade confirmation, access to clearing services and risk management functionality.
It has over 5,900 registered participants, of which more than 3,200 were active as of August 2017.
The IPO will see sale of equity shares by existing shareholders including Tata Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Renuka Ramnath-led Multiples Alternate Asset Management.