IEX board approves Rs 980 million share buyback

The board of Indian Energy Exchange (IEX) has approved a proposal to buyback equity shares of upto Rs 980 million at a price not exceeding Rs 200 per share through open market route.

The indicative maximum number of equity shares to be bought back under the buyback would be 4,900,000 equity shares (representing 0.55 per cent, which is less than 25 per cent of the existing paid-up equity share capital of the company). The maximum buyback size represents 14.95 per cent and 14.92 per cent of the aggregate of the total paid-up equity 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, respectively.