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IEX rises on eyeing shareholders’ nod to issue bonus shares
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Indian Energy Exchange is currently trading at Rs. 737.65, up by 5.35 points or 0.73% from its previous closing of Rs. 732.30 on the BSE.
The scrip opened at Rs. 742.90 and has touched a high and low of Rs. 747.70 and Rs. 733.50 respectively. So far 320954 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 956.15 on 19-Oct-2021 and a 52 week low of Rs. 181.00 on 04-Nov-2020.
Last one week high and low of the scrip stood at Rs. 832.85 and Rs. 690.35 respectively. The current market cap of the company is Rs. 22123.75 crore.
The Institutions and Non-Institutions holding in the company stood at 60.87% and 39.12% respectively.
Indian Energy Exchange (IEX) is all set to seek shareholders’ approval to issue bonus shares through postal ballot notice. The company has issued postal ballot notice to seek approval of shareholders on a proposal to issue bonus shares to members. The board had approved and recommended on October 21, 2021, to issue of bonus equity shares of rupee one each credited as fully paid-up to eligible members of the company in the proportion of two new fully paid-up equity share of rupee one each for every one existing fully paid-up equity shares of rupee one each held by them, by capitalising a sum not exceeding Rs 59.91 crore out of the company's free reserves and capital redemption reserve as on March 31, 2021.
The company is also planning to seek members approval to increase in authorised share capital and consequent alteration in the capital clause of the memorandum of association. The current authorised share capital is Rs 40.25 crore divided into 40,25,00,000 equity shares of rupee one each. The company proposes to increase its authorised share capital to Rs 1,00,00,00,000 divided into 1,00,00,00,000 equity shares of rupee one each to cover the issuance of bonus shares.
IEX is India’s first and no 1 electricity exchange. It is a transparent, neutral, demutualised, nationwide, automated, online electricity trading platform. It enables efficient price discovery and price risk management for participants of the electricity market including industries eligible for open access through anonymous platform.
