On 25 November 2022, the board of directors of the Indian Energy Exchange (IEX) approved a share buyback of up to Rs 98 crore at a price which is not more than Rs 200 per share through the open market route.

On the Bombay Stock Exchange (BSE), the buyback price of Rs 200 per equity share represents a 36.01 per cent premium and a closing price of Rs 147.05.

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The maximum buyback size represents 14.95 per cent and 14.92 per cent of the aggregate of the company’s total paid-up equity share capital and free reserves based on the latest audited financial statements during the year-end.

The company has to provide India’s largest power supplier with an automated trading platform for the physical delivery of electricity, renewable energy certificates, and energy-saving certificates.

On a consolidated basis, the net profit of IEX slipped at 8.4 per cent to Rs 71.20 crore on a 13.8 per cent decrease in net sales to Rs 95.20 crore in the second quarter of FY23 over the second quarter of FY22. On BSE, IEX’s shares rose by 2.28 per cent to end at Rs 150.40.