IEX buyback news: Check IEX buyback price, record date 2022, ratio | India Energy Exchange Share Price NSE

IEX Buyback News, IEX Buyback Price, Record Date 2022, Ratio: Shares of India Energy Exchange (IEX) fell on Monday, November 24, as investors reacted to the announcement of a buyback programme. According to an exchange filing, IEX will buyback shares worth Rs 98 crore via open market.

The stock opened at Rs 150.90, up marginally from the previous close of Rs 150.35. The selling pressure dragged the scrip to touch intraday low of Rs 146.35, declining nearly 2.50 per cent.

Zee Business panellist and market expert Sandeep Jain said that although the Return on Equity is good and the company fundamentals are good, the view on the stock is cautious. He said that the buyback plan will definitely lend support and added that the company should have announced the buyback programme via tender route.

IEX Share Buyback Price

According to an exchange filing by the company, IEX will buyback 49,00,000 equity shares at a price not exceeding Rs 200 apiece. 

"The board has approved the buyback of fully paid up equity shares having a face value of Re 1 each of the company at a price not exceeding Rs 200 per equity share and not exceeding Rs 98 crore payable in cash via open market route," the company said.

Meanwhile, IEX has also received an approval for the formation of a wholly-owned subsidiary company in India.

"...we wish to inform you that the Board of Directors in their meeting held on November 25, 2022, has accorded its in-principle approval for the formation of a wholly-owned subsidiary company in India to explore the business opportunities in Carbon Market...," the company said in a corporate filing on November 26.  

IEX Corporate Action History

IEX Share Price History

IEX is a mid-cap company that offers a national online trading network for the physical delivery of electricity, renewable energy and certificates. The stock has yielded a negative return of 23 per cent in the past 6 months.

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