IEX shares surge 10% to Rs 278.70 on bonus ex-date, record date on December 6

Shares of Indian Energy Exchange Ltd hit an upper circuit of 10% on the BSE in Friday's intraday trade on the ex-date of 2:1 bonus announced by the management for shareholders. The record date for IEX 2:1 bonus is December 6, 2021.  

Amid a spurt in volumes by 6.23 times, IEX stocks touched the day's high of Rs 278.70 per share on the BSE in the early morning trade on Friday. The shares were trading with 7 per cent gain or RS 17 to 259.95 at 11.55 pm on the BSE.  

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Shares of IEX touched a 52-week high of Rs 318.40 on the BSE on October 19, 2021, and a low of Rs 66.28 per share in December last year.

Earlier on October 21, IEX Board had approved 2: 1 bonus shares, under which shareholders will get two bonus shares for every one held.

On November 26, in a regulatory filing, the company said the shareholders of the company have approved the resolutions as contained in the notice by the requisite majority on November 25, 2021, through remote e-voting postal ballot process as set out in the postal ballot notice.

Between October 2018 and December 2021, the company has announced dividend 4 times, share split once, buyback offer one time and recently announced bonus once.  

Indian Energy Exchange is a energy marketplace, providing a nationwide automated trading platform for the physical delivery of electricity, renewables, and certificates. IEX claims to have a robust ecosystem of 6,800+ participants located across 29 States and 5 Union Territories comprising of 55+ distribution utilities and 500+ conventional generators.  

The Exchange is a publicly listed company with NSE and BSE since October 2017.