New Delhi: Indian Energy Exchange (IEX) stated in a regulatory filing on Friday that it has bought back equity shares worth rupees three lakhs through open market.
IIFL securities, the manager of the company's BuyBack Offer stated, "This is in relation to the buyback of fully paid-up equity shares having a face value of Rupee one only each of the Indian Energy Exchange Limited at a price not exceeding Rs 200 per equity share ("Maximum Buyback Price") and for an aggregate amount not exceeding Rs 98,00,00,000 ("Maximum Buyback Size"), from the shareholders of the Company (other than the promoters, the promoters group and persons in control of the Company) payable in cash via "Open Market" route through the stock exchange mechanism."
It also stated that amount is "less than 15 percent of the aggregate of the total paid-up share capital and free reserves of the Company, based on the latest audited standalone and consolidated financial statements of the Company as on March 31, 2022, in accordance with the provisions under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 ("Buyback Regulations"), as amended and the Companies Act, 2013, as amended, and other applicable provisions (the process hereinafter referred to as the "Buyback")."
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)