Oct 09 , 2017 - Oct 11, 2017
Rs.1,645 – Rs.1,650 per Equity Share
It is largest exchange for the trading of a range of electricity products in India (our “Exchange”), in terms of traded contract volumes in the financial year 2017 according to the Central Electricity Regulatory Commission (the “CERC”).
It is one of two exchanges in India that offer an electronic platform for the trading of electricity products and have a substantial majority market share among the power exchanges in India. The DAM constitutes the substantial majority of the energy contracts that are traded on our Exchange.
|Issuer||India Energy Exchange Limited (View Report)|
|Issue Type||100% Book Built Issue IPO|
|Issue Period||Issue Opens: Oct 09, 2017|
|Issue Closes: Oct 11, 2017|
|Price Brand||Rs.1,645 – Rs.1,650 per Equity Share|
|Issue Size(Rs.)||Rs.998 -1,001 Cr|
|Face Value||Rs.10 per Equity Share|
|Minimum Order Quantity Retail:||9 Shares and in multiples thereof|
|QIB*||50% of the issue size (3,032,503Equity Shares)^|
|NIB||15% of the issue size(909,752Equity Shares)^|
|Retail Individual Bidders||35% of the issue size (2,122,754Equity Shares)^|
|Registrar||Link Intime India Pvt Limited|
|Listing||NSE & BSE|
|Book Running Lead Managers||Kotak Investment Banking, Axis Capital, IIFL Holdings Ltd|
At standalone entity level, MAS Financial Services Limited has been consistently recording CAGR growth of 25% in revenue and the net profit growth has also been impressive at 26% CAGR growth during FY13-FY17. During the same period, MAS has consistently witnessed PAT margin of more than 19%. The IPO will infuse more capital compared to the existing capital and this will further add financial muscle which is expected to aid in healthy loan book growth going ahead. With GNPA & NNPA levels within limits of 1.17 & 0.99 respectively as on 30, Sep 2017, superior asset quality is major positive for the company. With the management’s decision to venture into high growth agri-input segment, MAS is expected to enjoy higher profitability margins. Considering the greater market penetration, better operating efficiency, niche focus, customized product offerings, strong financials, robust return ratios and a well cushioned capital adequacy ratio of 23.8 with a Tier-1 capital of 18.5 as on 30, Sep 2017, MAS valuation looks reasonable and we rate 3 out of 5 rating for the IPO.
Public issue of 60,65,009 equity sharesof Rs. 10/-each (“equity shares”) of India Energy Exchange Ltd (Company or Issuer).