Two companies -- Indian Energy Exchange and General Insurance Corporation Of India -- are set to launch theirinitial public offerings this week to raise about Rs 12,371 crore. Indian Energy Exchange plans to raise Rs 1,001 crore through its initial share sale offering. It has fixed a price band of Rs 1,645- 1,650 per share for its public issue.
The issue by which the company is selling 60,65,009 shares or 20 per cent of the post-issue paid-up capital will be open for subscription during October 9-11. Axis Capital, Kotak Mahindra Capital Company and IIFl Holdings will manage the company’s public issue.
IEX is India's first power exchange providing automated trading platform for electricity (for physical delivery) and renewable energy certificates. State-owned General Insurance Corporation of India's (GIC Re) Rs 11,370-crore IPO is in a price band of Rs 855-912 per share.